'Switzerland has good growth prospects'

Switzerland has good growth prospects and the country's financial sector is also stable, according to the International Monetary Fund (IMF).
The multilateral agency has projected two per cent growth for Switzerland this year mainly on account of improved outlook in the export sector, according to the Swiss government.
"IMF attests that Switzerland has good growth prospects and a stable financial sector," it said in a statement today.
After carrying out a detailed examination of the country's financial sector, the agency has suggested that big banks should continue to reduce leverage.
"It also advises pursuing the efforts undertaken to ensure the cross-border resolvability of large institutions," the statement said.

IMF delegation conducted the annual country evaluation in Bern and Zurich from March 14 to 24. The regular evaluation of the economic and financial situation of Switzerland was conducted in the context of Article IV Consultation, which is a key element of the multilateral agency's economic policy monitoring activity.
"The IMF believes that monetary conditions have improved over the past 12 months.
"Nevertheless, renewed appreciation of the Swiss franc could quickly bring back deflationary pressures. Against this background, the IMF continues to support the Swiss National Bank's exchange rate floor of CHF 1.20 per euro," the statement said.