Spain Banks Risk Loan-Book Losses Amid Recession, IMF Says
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The International Monetary Fund said Spain’s recession is weakening lenders and called on the government to do more to lower a 27 percent jobless rate.
“Non-performing loans are typically a lagging indicator so we wouldn’t be surprised if it were to continue to increase,” said the head of the Washington-based IMF’s Spain mission, James Daniel, during a news conference in Madrid.