IMF Says Supports ECB's Rate Cut

Reuters

The International Monetary Fund said on Thursday it fully supports the European Central Bank's interest rate cut and that its aid to Greece is with the country and would continue as long as its terms were met.

"We fully support the interest rate reduction announced this morning which reflects the decrease in inflationary pressures and intensified negative outlook for the euro zone," IMF spokesman David Hawley told a news conference.

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He declined to comment directly on reports that the Greek government was on the brink of collapse but said the IMF loan program was tied to the country.

"Our programs are with countries. If the authorities in any country continue to implement the program, then the fund is in a position to continue the program," Hawley said.