New York

IMF says Italy, Spain still struggling with credit

Lagarde sees no signs of loans increasing

IMF says Italy, Spain still struggling with credit

New York, June 4 - Italy and Spain continue to suffer from a credit crunch, the head of the International Monetary Fund (IMF) said Tuesday. ''Business loans are gradually increasing in countries such as Germany,'' said IMF Managing Director Chrstine Lagarde, who stressed that the same could not be said of ''Italy and Spain'', which continue to struggle with recession and high unemployment.

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