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IMF Working to Limit Spread of Italy, Spain Worries, Borges Says

Oct. 5 (Bloomberg) -- Antonio Borges, the International Monetary Fund’s European department head, said the IMF is working to limit the spread of concerns about Spain and Italy.

“For us, it is absolutely important that we restore confidence in the debt market of Spain and Italy to bring back investors to those markets,” Borges said in the text of remarks at a press conference in Brussels today. Market participants need to be persuaded that it is “appropriate to keep buying this debt,” which may require “some official sector involvement in the process,” Borges said.

He said the situations in Spain and Italy are different than in Greece and Portugal.

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To contact the reporter on this story: Rebecca Christie in Brussels at rchristie4@bloomberg.net

To contact the editor responsible for this story: Jones Hayden at jhayden1@bloomberg.net

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