Jan. 4 (Bloomberg) -- Spain has no plans to seek external help to fund its overhaul of the financial industry, Carmen Martinez Castro, the deputy minister for communication, said in a telephone interview.

She denied a report today in Expansion newspaper that the government is considering seeking loans from the European rescue facility and the International Monetary Fund as part of its plans to make banks clean up their balance sheets.

To contact the reporter on this story: Angeline Benoit in Madrid at abenoit4@bloomberg.net

To contact the editor responsible for this story: Emma Ross-Thomas at erossthomas@bloomberg.net