Ireland : Third Review Under the Extended Arrangement: Staff Report; Letter of Intent; Memorandum of Economic and Financial Policies; Technical Memorandum of Understanding; Letter of Intent and Memorandum of Understanding on Specific Economic Policy Conditionality (College of Commissioners);Staff Supplement; Press Release on the Executive Board Discussion.

 
 
Publication Date: September 07, 2011
 
Electronic Access: Free Full text (PDF file size is 1,153KB).
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Summary: The Irish authorities steadfastly maintained strong policy implementation despite a sharp escalation and expansion of stress in euro area sovereign bond markets. Strengthened European support is welcome, but early implementation is key, and restoring broader stability in the euro area is essential. Strengthening supervision and the broader financial framework is critical. Lowering the interest rates on EU loans, and lengthening their maturities, will improve debt and debt service dynamics. Timely and sound implementation of financial sector reforms will help to fully benefit from stronger European support.
 
Series: Country Report No. 11/276
Subject(s): Bank restructuring | Bank supervision | Banking sector | Debt sustainability analysis | Economic indicators | Extended arrangement reviews | Fiscal consolidation | Fiscal reforms | Letters of Intent | Relationships with Fund | Staff Reports

 
English
Publication Date: September 07, 2011
ISBN/ISSN: 9781463902353/1934-7685 Format: Paper
Stock No: 1IRLEA2011003 Pages: 80
Price:
US$18.00 (Academic Rate:
US$18.00 )
 
 
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