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The success of government interventions depends not just on how much is spent, but on spending it well.

Access the transcript of the IMF’s Regional Economic Outlook on Europe press briefing, led by Alfred Kammer, Director of the European Department. The briefing addresses Europe’s inflation trends, growth outlook, and policy recommendations, highlighting the impacts of Russia’s war in Ukraine, the EU’s fiscal framework, and reforms to enhance productivity and integration in the Single Market.

Washington, DC – July [23], 2024]: The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Italy.

In her acceptance speech for the Ugo La Malfa Prize for International Cooperation, Kristalina Georgieva reflects on the importance of global economic cooperation since World War II. Highlighting her own journey from Bulgaria to leading the IMF, Georgieva discusses the significant progress made through international collaboration and shares her unwavering optimism for the future despite current global challenges.

The economy recovered well from the sequential pandemic and energy price shocks on the rebound in tourism and substantial policy support. However, growth has moderated. While contributing to the recovery, expansionary fiscal policy has also kept the deficit and public debt very high, elevating Italy’s risk premium and acting as a drag on private sector investment.

Hello everyone. Thank you for joining today's press conference on the release of the European Economic Outlook. My name is Camila Pérez. I am a Communications Officer with the IMF. Here we are with Alfred Kammer.

Transcript of Fiscal Monitor April 2024 Press Briefing

IMF Staff Concludes Visit to San Marino

My name is Julie Kozack. I'm the Director of Communications at the IMF. This briefing will be embargoed until 11:00 a.m. Eastern Time.

Europe has weathered indeed well a series of unprecedented shocks, the pandemic, and then the energy crisis, which was triggered by Russia's invasion of Ukraine. What we also saw was that severe downside scenarios were avoided, and I would say this is a big accomplishment. Comparing that when we worked together in last October and the situation looked much different from today.