IMF Staff Country Reports

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.

September 7, 2011

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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., (USA: International Monetary Fund, 2011) accessed September 19, 2024

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.

Subject: Banking, Credit, Financial institutions, Fiscal consolidation, Fiscal policy, Loans, Money, Mortgages, Public debt

Keywords: CR, Credit, Debt service, EU financing, Europe, Financing, Fiscal consolidation, Global, Growth prospect, ISCR, Loans, Market, Market appraisal, Market commentary, Mortgage, Mortgages, Private sector, Renewed bond purchase

Publication Details

  • Pages:

    80

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2011/276

  • Stock No:

    1IRLEA2011003

  • ISBN:

    9781463902353

  • ISSN:

    1934-7685

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