IMF’s Nehmat urges eurozone fiscal adjustment plan rethink

Department for International Development

Nehmat Shafik, a deputy managing director of the International Monetary Fund (IMF), today (May 31) said some eurozone countries might need to rethink fiscal targets for this year in light of the renewed uncertainty facing the region.

"Overall, fiscal adjustment plans for this year are broadly appropriate in Europe. In a few euro area countries, however, the nominal fiscal targets for 2013 agreed before the current slowdown in growth may prove too pro-cyclical and may need to be adjusted or at

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