IMF says Spain bank cleanup at 'advanced stage'

WASHINGTON (AFP) - The International Monetary Fund said on Monday that Spain's reforms under its financial-sector support programme are close to being complete and that the cleanup of its weakest banks is well-advanced.

"The programme remains on track: the clean-up of undercapitalised banks has reached an advanced stage, and key reforms of Spain's financial sector framework have been either adopted or designed," the IMF said in a mission report.

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