Italy's public debt is high and credible adjustment is needed, the International Monetary Fundsaid Wednesday.
"Italy is an advanced economy with an elevated debt, it is a country where by tradition there is concern for the bond market and the spread," the IMF said.
"Our recommendation is that a credible budget adjustment would be important to put the debt on a sustainable downward trajectory," said Victor Gaspar, director of the IMF's FiscalMonitor.