| CATEGORY: INTERNATIONAL ECONOMIC |
Wed 18 Jul 2012
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LONDON (SHARECAST) - In its annual review of the Eurozone, the International Monetary Fund (IMF) has urged the European Central Bank to continue providing support to the economy.
The IMF said that the ECB must continue to play a crucial role in addressing a crisis that has reached a "critical stage."
According to the organisation, the ECB still has room to manoeuvre in terms of monetary stimulus, "especially if downside risks to growth materialise, including through additional non-standard measures in view of the impaired monetary transmission mechanism."
The IMF urges Europe to form a banking union as a first priority and welcomes the flexible use of the rescue funds EFSF and ESM.
The IMF believes that the ECB should continue to provide liquidity and purchase securities.
MG
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