IMF says Italy faces 'monumental challenge'

By: |Updated: Tue July 12 2016, 6:21 pm

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Italy’s economy will grow by less than one percent this year and only marginally faster in 2017, the International Monetary Fund says, cutting its previous forecasts as a result of Britain’s decision to leave the European Union. But, as Sonia Legg reports, Italian government borrowing costs did edge lower, as Rome moved closer to a deal to safeguard the country’s struggling banks.

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