IMF gives Ireland €1.48bn loan

2011-09-03 10:23

Washington - The International Monetary Fund released the latest tranche on Friday of €1.48bn ($2.11bn) to Ireland as part of an IMF-EU bailout for the debt-ridden government in Dublin.

The instalment is part of an €85bn rescue package.

The IMF praised the government's ongoing austerity and reform efforts, and noted that Ireland's economy has shown signs of stabilising along with improvements in financial markets.

A reorganisation of the banking sector has progressed faster than anticipated when the new strategy was rolled out in March, the Washington-based international crisis lender said.

The latest tranche brings to €8.68bn the total IMF assistance delivered to Ireland so far.

  • Spyker May - 2011-09-03 14:43

    Very BIG mistake in my opinion. Ireland is the EU's 3rd world (2nd only to Greece and Portugal) - I hope they do not come to regret it. I see the Irish going back to their "old ways" as soon as they lay their hands on the loot.

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