IMF Urges Decisive Steps to Cut Italy’s Debt

Posted July 13th, 2011 at 7:10 am (UTC-5)
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The International Monetary fund Tuesday called for “decisive implementation” by Italy to cut its public debt. Italy has sought to calm market fears about the sustainability of its public debt.

As investors continued to dump Italian bonds, Italian leadership has developed an austerity plan. The plan calls for across-the-board cuts.

The IMF praised Italy’s efforts amid worries that the Italians could follow Greece and Portugal in requiring a bailout.