Eurozone must not cut fiscal support too soon – IMF official

Vitor Gaspar ECB Forum on Central Banking
European Central Bank

The biggest risk facing the eurozone’s economy was the chance of governments cutting fiscal support too early, a senior International Monetary Fund official said on November 12.

“Despite the fact that public debt risks are quite substantial, in our view, the current dominant risk is the risk of premature withdrawal of fiscal support,” said Vítor Gaspar, director of the IMF’s fiscal affairs department.

He noted that 2020 had seen an unprecedented jump in the eurozone’s public debt, by about 17

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