Latest Business News: IMF Urges More Reforms in Italy to Create Jobs

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Latest Business News: IMF Urges More Reforms in Italy to Create Jobs

by Wochit 0:46 mins

Latest Business News: IMF Urges More Reforms in Italy to Create Jobs

by Wochit 0:46 mins

The International Monetary Fund is praising Italy for having taken "bold steps" to heal its finances but says the government needs to do more to get "unacceptably high" unemployment down. The central bank kept its main rate at 0.5 percent, as expected, choosing not to respond yet to signs of increasing financial tension in the euro zone. Investors who wrongly called time on U.S. economic supremacy during the financial crisis are set to pay a hefty price for betting too much on the developing world, according to a top Goldman Sachs strategist.

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