4 November 2011 The head of the International Monetary Fund, Christine Lagarde, has said that Italy's planned budgetary reforms "lack credibility".
Italy agreed a limited package of budget reforms on Wednesday evening.
But the Italian cabinet failed to agree to issue a decree implementing the changes, meaning that they must now go to a confidence vote in parliament.
Ms Lagarde said the IMF would carefully monitor the implementation of reforms, after Italy invited it to do so.
"We will go quarterly [to Italy]. We will check that what Italy has promised Italy is delivering. And if it is not delivering I will say so," Ms Lagarde told the BBC.
European Commission President Jose Manuel Barroso said that the commission would also step up its monitoring of Italy.
A team from the commission will travel to Rome next week, he said.
Italy agreed a limited package of budget reforms on Wednesday evening.
But the Italian cabinet failed to agree to issue a decree implementing the changes, meaning that they must now go to a confidence vote in parliament.
Ms Lagarde said the IMF would carefully monitor the implementation of reforms, after Italy invited it to do so.
"We will go quarterly [to Italy]. We will check that what Italy has promised Italy is delivering. And if it is not delivering I will say so," Ms Lagarde told the BBC.
European Commission President Jose Manuel Barroso said that the commission would also step up its monitoring of Italy.
A team from the commission will travel to Rome next week, he said.
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