Ireland: First and Second Reviews Under the Extended Arrangement and Request for Rephasing of the 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; and Press Release on the Executive Board Discussion.
IMF Staff Country Reports, May 20, 2011
Source details
- Canonical URL
- Ireland: First and Second Reviews Under the Extended Arrangement and Request for Rephasing of the 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; and Press Release on the Executive Board Discussion.
Other formats
Bibliographic details
- Published: May 20, 2011
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781455290642.002
Summary of findings and policy assessment
- Ireland has made progress in overcoming the economic crisis.
- The new coalition government’s strategy aims to restore sustained growth, sound public finances, and job creation within the context of the European Union/IMF-supported program.
- The government adopted a comprehensive strategy to reorganize and deleverage domestic banks, and to strengthen their capital base.
- The report emphasizes that steadfast implementation of policies coupled with support from a comprehensive European plan will foster Ireland's economy.
Banking sector strategy and financial stability
- Comprehensive strategy adopted to:
- Reorganize domestic banks.
- Deleverage domestic banks.
- Strengthen banks' capital base.
- Policy implication:
- Continued policy implementation and European support are presented as key to fostering economic recovery.
Program context and governance
- The government's strategy is presented in the context of the European Union/IMF-supported program.
- Document components listed in the title indicate a package including:
- 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
Subjects and keywords
- Subject: Banking, Commercial banks, Credit, Financial institutions, Fiscal consolidation, Fiscal policy, Loans, Money, Public debt
- Keywords: budget neutrality, Commercial banks, CR, Credit, european financial stability facility, financing, financing package, Fiscal consolidation, IMF-supported program, increase in capital spending, Ireland's IMF quota, ISCR, Loans, spending
Source: Ireland: First and Second Reviews Under the Extended Arrangement and Request for Rephasing of the 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; and Press Release on the Executive Board Discussion. May 20, 2011.