The International Monetary Fund said today that its executive board would delay consideration of a rescue plan for Ireland until after the Dáil votes on the proposed bail-out.
'The government of Ireland decided yesterday to table a motion on the EU-IMF Financial Assistance Programme for Ireland in the Irish Parliament,' an IMF spokesperson said in a statement.
The vote on the motion of the European Union-IMF rescue package of €85 billion is set for next Wednesday.
'The authorities have informed us that while parliamentary approval of the EU-IMF support package is not legally required, the Irish government has put the motion before parliament to strengthen political support for the agreement,' the IMF spokesperson said.
'In deference to Ireland's parliamentary process, the IMF has decided to postpone consideration by its board of the proposed loan under the Extended Fund Facility until after the debate,' he added.
If the Dáil backs the package, IMF managing director Dominique Strauss-Kahn 'could recommend approval' by the IMF board of the multilateral institution's proposed €22.5 billion loan as early as Thursday, the spokesperson said.
