
The International Monetary Fund approved the 12th and last review of Ireland's progress under its three-year rescue program Friday, allowing a final $890 million in support of its financial rebuilding. "Owing to steadfast policy implementation by the authorities, the EU-IMF supported program has been completed successfully," the IMF said. "Ireland has pulled back from an exceptionally deep banking crisis, significantly improved its fiscal position, and regained its access to the international financial markets." The IMF took part with the European Commission, Denmark, Sweden and Britain in the 85-billion-euro ($117 billion) rescue of the country, which aimed to head off a deep balance of payments crisis as the country along with many others across Europe struggled in the economic downturn. "Ireland is now in a much stronger position than when its program began," said IMF Managing Director Christine Lagarde. "Yet Ireland still faces significant economic challenges. Unemployment is too high, public debt sustainability remains fragile and heavy private sector debts and banks' slow progress in resolving nonperforming loans weigh on domestic demand. "Continued concerted policy implementation is therefore necessary for Ireland to recover fully from the crisis." At the same time, Lagarde welcomed the government's decision to shun a successor program. "Ireland?s track record within its EU-IMF supported program bodes well for its success in tackling these remaining challenges," she added.
GMT 09:54 2018 Tuesday ,23 January
Davos-bound bosses very upbeat on world economyGMT 09:37 2018 Tuesday ,23 January
Former KPMG executives charged in accounting oversight scamGMT 22:49 2018 Sunday ,21 January
Brexit special trade agreement possibleGMT 22:46 2018 Saturday ,20 January
China economy rebounds in 2017 with 6.9% growthGMT 22:37 2018 Saturday ,20 January
GE takes one-off hit of $6.2 bn linked to insurance activitiesGMT 19:58 2018 Saturday ,20 January
Watchmakers hope to make Chinese market tickGMT 19:54 2018 Saturday ,20 January
US shutdown unlikely to harm debt rating: FitchGMT 19:50 2018 Saturday ,20 January
EU's Moscovici slams Ireland, Netherlands as tax 'black holes'

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor