IMF 'can't buy euro zone bonds'
Baku, October 7 (AZERTAC). A senior International Monetary Fund official reiterated today that the Fund was not in a position to buy the sovereign bonds of Italy and Spain to help combat the euro-zone debt crisis, but would seek to help the countries' banks.
"The IMF is not in a position to buy on the bond market. We will however do our best to restore confidence in the banks in Spain and Italy," Antonio Borges, head of the IMF's European department, told a news briefing in Moscow.
He also said that the Fund was happy with the announcement by the Bank of England that it will launch a new round of quantitative easing to shield Britain`s economy from the effects of the euro-zone debt crisis.
Borges described the announcement of £75 billion in government bond purchases as "appropriate" but added that he did not think further action was necessary.
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