Ireland: Eleventh Review Under the Extended Arrangement
IMF Staff Country Reports, October 4, 2013
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- Canonical URL
- Ireland: Eleventh Review Under the Extended Arrangement
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Bibliographic details
- Published: October 4, 2013
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475565935.002
Overview
- Policy implementation remains on track.
- Recent weak GDP data point to a slower growth recovery.
- IMF staff supports the authorities’ request for completion of the eleventh review.
Macroeconomic developments
- Real GDP declined in the first quarter, reflecting a fall in exports and weak domestic demand.
- A range of other economic indicators are more encouraging, suggesting lower but still positive growth in 2013, though uncertainty remains.
- Growth projections for 2014 are lowered.
Fiscal and financial sector developments
- Fiscal results remain on track.
- Sovereign and bank bond yields have risen relatively modestly in response to declining global risk appetite.
Policy assessment and IMF position
- The IMF staff supports completion of the eleventh review under the Extended Arrangement.