IMF's Lagarde backs ECB-bond buying plan (by Greg Robb)

WASHINGTON (MarketWatch) - The International Monetary Fund strongly welcomed the European Central Bank President Mario Draghi's statement that the ECB is prepared to buy government bonds as long as strict conditions are abided to, said Christine Lagarde, the agency's managing director on Thursday. "Decisive implementation of the new intervention program will help repair monetary transmission, and support countries' efforts to secure finance at a reasonable cost while they undertake sustained macroeconomic adjustment. We see the ECB's action as an important step toward strengthening stability and growth in the euro area," Lagarde said in a prepared statement.