IMF report calls for more powers for Bank of Spain

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The second quarterly report by an International Monetary Fund (IMF) team into the progress made in reforming Spain's financial sector, in connection with the country's use of the European Financial Stability Facility (EFSF), has found "the bulk" of the program has been completed – but makes further recommendations including the expansion of the Bank of Spain's regulatory and supervisory powers.

The report, published this afternoon, emphasises the importance of maintaining the momentum of reform

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