BY WILLIAM HOROBIN
PARIS—The International Monetary Fund urged France to prepare contingency measures to reach its deficit targets, warning that its triple-A rating was key to keeping borrowing costs low.
The IMF also warned of external risks to the French economy from the euro-zone crisis and said the country's banks were significantly exposed to peripheral euro countries.
"France cannot risk missing its medium-term fiscal targets given the need to strengthen implementation of the [euro zone's] Stability and Growth Pact and keep borrowing costs low by securing France's AAA-rating," the IMF said on Wednesday in its annual report on France.
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