Bloomberg News

IMF’s Borges Says IMF Could Work With EFSF on Italy, Spain Debt

October 05, 2011

Oct. 5 (Bloomberg) -- Antonio Borges, the International Monetary Fund’s European department head, said that the fund could use its own resources to restore confidence in the debt markets of Italy and Spain.

“We could also be part of this process of restoring confidence in the debt markets,” Borges said in an interview with Dublin-based broadcaster RTE. The IMF could be “helpful” to the debt markets of the two countries by providing “precautionary lending” or “special purpose facilities,” he said.

Borges said that there are no “immediate proposals on the table” as policy makers focus on the approval of changes to Europe’s bailout fund.

To contact the editor responsible for this story: Finbarr Flynn at

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