Ireland: Request for an Extended Arrangement‑Staff Report; Staff Supplement; Staff Statement; and Press Release on the Executive Board Discussion.
IMF Staff Country Reports, December 17, 2010
Source details
- Canonical URL
- Ireland: Request for an Extended Arrangement‑Staff Report; Staff Supplement; Staff Statement; and Press Release on the Executive Board Discussion.
Other formats
Bibliographic details
- Published: December 17, 2010
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781455212897.002
Summary findings and program objectives
- The economic and financial pressures facing Ireland are described as "intense."
- The banking sector is identified as "at the fulcrum of Ireland’s problems."
- Major objective: restore the banking system by creating a leaner and more robust banking sector.
- The program will address structural problems and restore confidence in the banking sector.
- Support measures include providing additional capital to banks to assist the transition.
- Credibility measures include stringent stress and diagnostic tests for banks.
- The program faces "substantial risks" that "will need to be actively managed."
Policy measures and implementation features
- Capital support:
- The program provides support in the transition through additional capital to banks.
- Banking-sector credibility and oversight:
- The credibility of the banking system will be bolstered by stringent stress and diagnostic tests.
- Risk management:
- The substantial risks to the program will need to be actively managed.
Subject areas and keywords (as listed)
- Subject: Banking, Commercial banks, Credit, Debt service, External debt, Financial institutions, Money, Public debt
- Keywords: Commercial banks, CR, Credit, Debt service, debt service burden, Europe, financing package, Global, IMF contribution, ISCR, policy change, PRSI contribution rate