IMF says comments on post-referendum funding were misinterpreted

The IMF has said that an article published in The Sunday Times misinterpreted remarks from its spokesman when it said the fund would lend to Ireland even if the EU fiscal treaty is rejected.

IMF spokesperson Olga Stankova said the comments were about “lending procedures in general and not about Ireland or any other country specifically.”

Ms Stankova said “current Fund lending to support programs in eurozone countries has been undertaken together with our Troika partners”, referring to the European Union and European Central Bank.

Emergency funding from Europe is currently provided through the European Financial Stability Facility, however this is due to be replaced by the European Stability Mechanism in the coming months.

The Government has said Ireland will only be able to access ESM funds if it ratifies the fiscal treaty.

In a discussion aired on RTÉ One's Week In Politics, Sinn Féin's Peadar Tóibín said the country would not be isolated from funding if it voted against the treaty.

However, Minister for Communications Pat Rabbitte said it had been made clear to the Government that the IMF would not provide funding to Ireland without support from the EU.

Separately Fianna Fáil leader Micheál Martin reasserted that the party will campaign vigorously for a ‘Yes’ vote, however he criticised what he called the slow start to the Government’s campaign to get the treaty passed.

Mr Martin also accused Fine Gael and Labour of taking a partisan approach to the debate rather than focusing on the issues.