Italy has asked IMF to monitor reforms: EU chief, Merkel

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Italy has asked the International Monetary Fund to scrutinise its budgetary reforms, European Commission chairman Manuel Barroso and German Chancellor Angela Merkel said on Friday.

"Italy has decided on its own to ask the IMF to monitor the implementation," Barroso told reporters at the end of a G20 summit in Cannes dominated by debt crises in Italy and Greece.

Merkel confirmed at a separate news conference that the Italian government had agreed to quarterly reports on its reforms.

"We have explicitly agreed today that the IMF and European Commission should present their reports (about Italy) quarterly," the German chancellor said.

An Italian government source had earlier denied that the agreement implied a formal "surveillance" mechanism, and said instead that Rome would seek "advice" from the IMF on the issue.

© 2011 AFP

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