The IMF warns EU countries on deficits, debt ratios

The IMF warns EU countries on deficits, debt ratios

The IMF warns EU countries on deficits, debt ratios

The International Monetary Fund (IMF) has warned European Union countries about their fiscal deficits and debt ratios.

In a report released on Tuesday, the IMF said that while the EU’s overall fiscal deficit is projected to decline this year, it will still be above the bloc’s 3% limit.

The organization also warned that several EU countries, including France and Italy, have debt ratios that are “significantly above” the bloc’s 60% limit.

The IMF called on EU countries to take “decisive action” to reduce their deficits and debt levels.

It said that countries should consider implementing spending cuts and tax hikes, as well as structural reforms to boost growth.

The organization also urged the EU to do more to resolve the bloc’s banking sector problems.

The IMF’s warning comes as EU leaders are set to discuss the bloc’s economic situation at a summit in Brussels later this week.

The IMF warns EU countries on deficits, debt ratios