International Monetary Fund completes ninth review of Ireland's performance under bailout deak

Monday 25 March 2013 07.19
IMF noted that 2012 fiscal deficit of 7.75 % of GDP was well within the 8.6% target
IMF noted that 2012 fiscal deficit of 7.75 % of GDP was well within the 8.6% target

The International Monetary Fund has completed its ninth review of Ireland's performance under the bailout agreement.

The IMF has said that Ireland has continued to implement strong policies.

It said that positive signs were emerging.

The IMF listed that real GDP growth was 0.9% in 2012 and employment rose slightly over the year.

The IMF noted that Ireland issued €5bn of 10 year bonds at 4.15% in March.

It noted that 2012 fiscal deficit of 7.75% of GDP was well within the 8.6% target.

It approved the release of almost €1bn scheduled to be paid from the bailout fund to the Irish Exchequer.

The IMF funding is part of a financing package amounting to €85bn is also supported by the European Financial Stabilisation Mechanism and European Financial Stability Facility, bilateral loans from Denmark, Sweden, UK and Ireland's own contributions.

Keywords: imf, bailout deal