IMF calls on Italy to be more ambitious on cutting debt

Vitor Gaspar, the Director of the Fiscal Affairs Department at the International Monetary Fund (IMF), on Wednesday called on Italy to be more ambitious in efforts to bring down its big public debt of over 2,850 billion euros, Azernews reports, citing ANSA.

"Additional ambition is needed in terms of the adjustment of the public finances," Gaspar, said at press conference at the IMF's annual meeting in Marrakech.

"The public debt will come down, but very slowly, and (remain) well over the pre-pandemic level".

He said "two elements are crucial" in bringing down the debt-to-GDP ratio, "reforms to increase growth potential" and "more ambitious targets".