Ireland: Twelfth Review Under the Extended Arrangement and Proposal for Post-Program Monitoring
IMF Staff Country Reports, December 19, 2013
Source details
- Canonical URL
- Ireland: Twelfth Review Under the Extended Arrangement and Proposal for Post-Program Monitoring
Other formats
Bibliographic details
- Published: December 19, 2013
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484312360.002
Overview and Purpose
- Discusses Ireland’s Twelfth Review Under the Extended Arrangement and Proposal for Post-Program Monitoring.
- Reviews progress under the EU-IMF arrangements and broader European initiatives supporting Ireland’s recovery.
- IMF staff supports the authorities’ request for completion of the twelfth review.
Economic Performance and Outlook
- Growth has exceeded the euro area average, though it is below initial projections.
- Indicators suggest a recovery may be emerging.
Banking, Financial Stability, and Reforms
- Ireland pulled back from a severe banking crisis with support from EU-IMF arrangements and broader European initiatives.
- Banking reforms have supported financial stability.
- Crisis and bank support led to a substantial rise in the deficit and a sharp increase in public debt.
Fiscal Impact and Public Debt
- The crisis and bank support produced a substantial rise in the deficit.
- The crisis and bank support produced a sharp increase in public debt.
IMF Staff Assessment and Recommendation
- On the basis of the progress made under Ireland’s program, IMF staff supports the authorities’ request for completion of the twelfth review.
Subjects and Keywords (as listed)
- Subjects: Banking, Credit, Financial institutions, Loans, Money, Mortgages, Nonperforming loans, Public debt
- Keywords: BoI's intention, CR, Credit, deficit target, EFF arrangement, Global, IMF quota, ISCR, Loans, Mortgages, Nonperforming loans, policy implementation, review Ireland, share price, track record, trading condition, yield