The International Monetary Fund (IMF) will not provide financial contributions to a rescue package for Spanish banks that could reach €100 billion ($125 billion), eurozone Finance Ministers said on Saturday.

In a statement, the Eurogroup confirmed that “up to €100 billion in total” would be made available to Spain, in order to cover (banks') estimated capital requirements with an additional safety margin.

The European Financial Stability Facility and the European Stability Mechanism will provide the money, the statement added. — DPA

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