Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), made the following statement today:

“I strongly support the Spanish government's objectives of restoring a sound fiscal position while securing a recovery and creating jobs. Today's announcement to pursue a more gradual consolidation path is a welcome step toward meeting these goals, building on major reforms and structural fiscal improvements last year.

“We are looking forward to discussing the measures underpinning the new strategy in the forthcoming Article IV Consultation mission to Spain, scheduled for early June.”