The International Monetary Fund (IMF) said Wednesday that it is poised to give financial assistance to Portugal as the nation has decided to ask for financial aid.
"We have seen the statements of Portuguese Prime Minster Jose Socrates and the President of the European Commission Jose Manuel Durao Barroso, about the intention of Portugal to ask for the activation of the financial support mechanisms. We have not received a request for financial assistance," an IMF spokesperson said.
"We stand ready to assist Portugal," the spokesperson said in a statement.