IMF / ECB

A spokesman for the IMF said today that the Fund supports the European Central Bank's announcement it will extend liquidity provisions to European banks. In addition, the Fund said that the poor economic outlook for Europe means that there is scope for the ECB to lower interest rates. IMF

• Categories: News & Features / News Stories / Unifeed
• Video Length: 00:01:17
• Production Date: 6 October 2011
• Asset Language: Original
• Corporate Name: INTERNATIONAL MONETARY FUND - IMF
• Subject Topical: ECONOMIC DEVELOPMENT; FINANCING; ECONOMIC CONDITIONS
• Geographic Subject: EUROPE
• MAMS Id: U111006g

Description

STORY: IMF / ECB
TRT: 1.17
SOURCE: IMF
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS

DATELINE: 6 OCTOBER 2011, WASHINGTON, DC

Shotlist

RECENT, WASHINGTON, DC

1. Wide shot, exterior IMF Headquarters

6 OCTOBER 2011, WASHINGTON, DC

2. Cutaway, reporters
3. SOUNDBITE (English) David Hawley, Deputy Director, External Relations, IMF:
“We share the ECB’s concern that there are severe downside risks to the outlook, as a result of financial tensions. Thus, we fully support the liquidity extension the ECB announced today. With outlook risks persisting, we believe there is currently scope in a reduction in policy rates as well.”
4. Cutaway, reporters
5. SOUNDBITE (English) David Hawley, Deputy Director, External Relations, IMF:
“We remain in close dialog with the authorities and are committed to continue to provide support through policy advice and technical assistance. We have not received a request from the authorities for a Fund arrangement. I should note that in the context of the dialog, we expect a staff team to travel to Cairo in the next few weeks to take stock of developments in the economy.”

RECENT, WASHINGTON, DC

6. Wide shot, exterior IMF headquarters

Storyline

A spokesman for the International Monetary Fund says that the Fund supports the European Central Bank’s announcement it will extend liquidity provisions to European banks. In addition, the Fund said that the poor economic outlook for Europe means that there is scope for the ECB to lower interest rates.

“We share the ECB’s concern that there are severe downside risks to the outlook, as a result of financial tensions. Thus, we fully support the liquidity extension the ECB announced today. With outlook risks persisting, we believe there is currently scope in a reduction in policy rates as well,” Hawley said.

Hawley also announced a new mission to Egypt planned to offer policy advice and technical assistance.

“We remain in close dialogue with the authorities and are committed to continue to provide support through policy advice and technical assistance. We have not received a request from the authorities for a Fund arrangement. I should note that in the context of the dialog, we expect a staff team to travel to Cairo in the next few weeks to take stock of developments in the economy,” Hawley said.