Recent fears about Italy's public debt 'need to be better understood' but 'there are no signs that the Italian spread has reached a level that might lead to action from the European Central Bank (ECB)', outgoing Bank of Italy Governor Ignazio Visco told B...
- ROME, OCT 13 - Recent fears about Italy's public debt"need to be better understood" but"there are no signs that the Italian spread has reached a level that might lead to action from the European Central Bank ", outgoing Bank of Italy Governor Ignazio Visco told Bloomberg TV at the International Monetary Fund's annual assembly in Marrakesh.
On Wednesday IMF Director of the Fiscal Affairs Department Vitor Gaspar called on Italy to be more ambitious in efforts to bring down its public debt of over 2,850 billion euros."The public debt will come down, but very slowly, and 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".
The spread between Italian and German 10-year bonds, a gauge of confidence in Italy's ability to pay down its public debt, has topped 200 basis points on several occasions in recent days amid rising yields.The higher the default risk the higher the interest paid on these bonds. .
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