10/01/2012
Troika Officials Review Bailout Agreement
Troika officials from the International Monetary Fund (IMF), the European Central Bank (ECB) and the European Union (EU) are back in Ireland today to review its bailout agreement.
They will examine last month's budget and whether it can deliver the growth and taxes pledged for 2012.
Chief Economist, William Buiter, of international financial services giant Citigroup, said that the Government should negotiate a second loan agreement in the event of not being able to borrow from the markets later this year.
Speaking at the annual global research day in Dublin Mr Buiter said that Ireland, alongside Portugal and Greece should see further restructuring of its sovereign debt this year.
Ireland is currently repaying this loan at an interest rate of 6%.
Taoiseach Enda Kenny said he was confident that a positive resolution could be gained from the latest talks.
Mr Kenny also confirmed he will meet British prime minister David Cameron in Downing Street on Thursday to discuss the ongoing euro zone crisis.
(CD/GK)
They will examine last month's budget and whether it can deliver the growth and taxes pledged for 2012.
Chief Economist, William Buiter, of international financial services giant Citigroup, said that the Government should negotiate a second loan agreement in the event of not being able to borrow from the markets later this year.
Speaking at the annual global research day in Dublin Mr Buiter said that Ireland, alongside Portugal and Greece should see further restructuring of its sovereign debt this year.
Ireland is currently repaying this loan at an interest rate of 6%.
Taoiseach Enda Kenny said he was confident that a positive resolution could be gained from the latest talks.
Mr Kenny also confirmed he will meet British prime minister David Cameron in Downing Street on Thursday to discuss the ongoing euro zone crisis.
(CD/GK)
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IMF Completes Fifth Review Under Extended Agreement With Ireland
The Executive Board of the International Monetary Fund (IMF) today completed the fifth review of Ireland's performance under an economic program supported by a three-year, SDR 19.47 billion (about €22.6 billion) arrangement under the Extended Fund Facility (EFF), or the equivalent of about 1,548 percent of Ireland's IMF quota.
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Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.