IMF officials to visit Ireland after February 25 poll



IMF - Keeping an Eye Over Irish Developments

IMF – Keeping an Eye Over Irish Developments

An IMF spokeswoman announced in Thursday that an IMF mission will visit Ireland after the country’s scheduled election on February 25 is over to discuss the status of a €85 billion (£72 billion) loan programme.

The spokeswoman of the multilateral lending agency, Ms Caroline Atkinson said it is possible that IMF review the second and third performance review of the program simultaneously.

She suggested that the visit also gives an opportunity to the new government to discuss any changes to the program.

“The basic fiscal framework will of course be something that will be discussed, one of the key elements of the program”, Ms Atkinson said.

IMF had sanctioned €22.5 billion to Ireland in a joint rescue bid with the EU to help the country salvage its failed banks.

The Irish Labour Party – which is expected to be a part of the new government has been vocal about a modified IMF/EU package and has also demanded that Ireland be given one more year – till 2016 to bring its staggering budget deficits to permissible EU limits.

They have also campaigned for an extended loan repayment period.

Recent opinion poll conducted in the country suggests that Labour and the centre-right Fine Gael party in an advanced stage of forming a coalition government.

However, both the countries are sharply divided over the deadline for meeting budget deficit with Fine Gael insisting that Ireland should meet the stipulated 3 percent EU limit by 2014 or 2015 at the latest.

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