IMF Managing Director Georgieva Urges French Government to Control Fiscal Deficit
- 1IMF Managing Director Kristalina Georgieva sent a message to the French government to control its finances.
- 2French 10-year government bond yields have risen by more than 100bp since early this year as political instability pressured bonds.
- 3With France recording a deficit of 5.1% of GDP last year, the French government is pursuing spending cuts worth tens of billions of euros.
So what's the key point?
The IMF Managing Director advised the French government to practice fiscal restraint. This comes after French government bond yields rose by more than 100bp due to increasing national debt.
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