23 Nov 2011

New IMF loans to help in debt crisis

12:50 pm on 23 November 2011

The International Monetary Fund has decided to step in to the eurozone crisis with a new loan programme.

It will offer loans to countries with strong economies but which need a credit line during the debt crisis.

Sony Kapoor from international think tank Re-Define advises eurozone governments on their financial affairs.

He says there is nothing countries can do to help themselves out of the crisis and help has to come from the outside.

But Mr Kapoor says the IMF's new loan programme won't save a country in real trouble.

"The maximum quota applied to Italy will still only provide less than three months' borrowing help to Italy," he says.