Overview

• President Carlos Mazón announced on June 18 that the IMF will establish its first Spanish office in Valencia following talks with the institution’s directors
• The new hub is designed as a center for technological development and policy advice within the IMF’s global network
• Officials expect the office to generate between 50 and 100 jobs in its initial phase
• The decision underscores Valencia’s appeal to major financial entities as a center for innovation and economic growth
• The IMF forecasts Spain’s GDP will expand by 2.5% in 2025 and 1.8% in 2026, making it the only large economy with upgraded outlooks this year