'No truth' to rumors of a Spain bailout request: IMF

4th May 2010, Comments 0 comments

The International Monetary Fund on Tuesday dismissed speculation that Spain was seeking a loan from the lending institution, saying there was "no truth" to the claims.

"There is no truth to these rumors," the IMF said in a statement issued after multiple media inquiries.

The Spanish stock market fell by more than five percent Tuesday on fears of fresh downgrades to the nation's credit rating and speculation that it would seek an IMF loan of some 280 billion euros (365 billion dollars).

© 2010 AFP

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