IMF endorses Italy's 'to do' decree

'Backing investments, respecting budget commitments important'

IMF endorses Italy's 'to do' decree

Washington, June 20 - The International Monetary Fund (IMF) on Thursday gave its support to the Italian government's so-called 'to do' decree of urgent moves to help revive the Italian economy and lift it out of recession. "In particular, the announced measures to back investments and respect EU budget commitments are important," said an IMF spokesperson. The 'to do' decree, which is already law after being approved by the cabinet Saturday but needs to be ratified by parliament, freed up around three billion euros for public works projects this year, which should create 30,000 temporary construction jobs. The decree also featured a move to cut energy bills by a total of 550 million euros, in part by slashing a tax to finance renewable energy initiatives.

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