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IMF calls for independent audit of Spanish Banks

Sat 24th Sep 2011

The IMF has called on Spain to use the services of an independent company to audit the country's banking system, a move that could help restore investor confidence.

The Director of IMF's European department yesterday called on the Country to increase efforts to make their struggling economy more export-oriented and to force a further round of reforms of the banking sector, which has struggled to attract investors during the eurozone public debt crisis.

Antonio Borges went on to say how Spain is taking all the correct steps and moving in the right direction, but that appointing an external and independent auditor would ensure that there was 'no uncertainty about the situation'.

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