IMF Loan Ireland €3.9bn For Austerity Expediency

Ireland is to receive a tranche of its agreed bailout deal with the International Monetary Fund, after being commended on being "ahead of schedule" on austerity.

The executive board of the International Monetary Fund said it had completed its review of Ireland's implementation of the bailout programme and agreed to release a further €3.9 billion in loans.

Following a meeting in Washington, the organisation made no comment about the review and noted it has so far loaned Ireland €13bn as part of the bailout programme.

The IMF said it expects to lend Ireland about €23bn over three years.

At the last release of funding in September, the body noted the Government had adopted a plan in March to reorganise and reduce debts of its domestic banks and said the strategy was "ahead of schedule in some areas."


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