By James Bryce
ANDALUCIA is one of five regions in Spain to have had their solvency rating reduced by ratings agency Fitch.
The regional government has dropped from AA- to A+ status as a result of its ongoing financial woes, which has resulted in a failure to meet deficit targets.
The Canaries, Catalunia, Valencia and Murcia also suffered drops, which could lead to Spain losing its current AA+ status.
The International Monetary Fund (IMF), has expressed its concern at Spain’s financial situation at a time of ongoing crisis throughout the Eurozone.
The IMF’s southern Europe representative, Arrigo Sadun, said: “Spain and Italy are doing much to deal with their public finances and their debt problems, but to avoid the contagion in the crisis they also need external support.”
- Fake Ferrari gang busted in Spain - 31 Jul, 2013 @ 19:33
- Sunday shopping for cruise passengers in Malaga - 30 Jul, 2013 @ 19:40
- Socialists demand Rajoy resignation over payment scandal - 3 Feb, 2013 @ 22:18
- Spanish border police accused of discrimination by Gibraltar MEP - 3 Feb, 2013 @ 21:25
- Donana under threat from gas extraction - 3 Feb, 2013 @ 09:30
- Duchess of York’s friend killed in Marbella blaze - 3 Feb, 2013 @ 09:00
- Massage therapy on rise in Spain - 2 Feb, 2013 @ 15:34
- Spanish art fair pays collectors to attend - 30 Jan, 2013 @ 12:38
- Fresh ideas - 29 Jan, 2013 @ 14:00
- Fighting the fat in Spain - 29 Jan, 2013 @ 11:02