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IMF Chief: Italy, Spain Have Yet to Seek IMF Bailout Funds

Written: 2011-11-29 12:00:49Updated: 2011-11-29 14:55:50

IMF Chief: Italy, Spain Have Yet to Seek IMF Bailout Funds

The chief of the International Monetary Fund says the governments of Italy and Spain have not yet asked the IMF for bailout funds.

During her visit to Peru, IMF Managing Director Christine Lagarde said Monday, local time, that the IMF provides bailout packages only when nations deliver official requests for them.

Her remarks are interpreted as a denial of some news reports that the Italian government is negotiating with the IMF to receive a 600-billion-euro bailout.

Lagarde also stressed that the heads of European countries must take action to prevent the euro zone fiscal crisis from spreading to France and Germany.

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