imap_open fails

Hi folks,

I have the following code

$mbox = imap_open("{}INBOX", "","xxxxxxx");

 if ($mbox)
  echo "connected";
  echo "not connected :<br>" . imap_last_error();

It is giving me the following output

not connected :
Unable to create selectable TCP socket (1919 >= 1024)

I am able to login to the account using telnet.

Any ideas what I am doing wrong?

Thanks in advance