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France's Dominique Strauss-Kahn, Managing Director of the International Monetary Fund SALVATORE DI NOLFI/AP/Press Association Images
IMF
IMF holds off on paying out Irish loan
The IMF defers making its decision “in deference to Ireland’s parliamentary process”.
THE INTERNATIONAL MONETARY Fund has delayed making a decision about its €22.5 billion portion of the bailout loan to Ireland until next week.
The IMF said in a statement that while the move was not legally required, it would strengthen political support:
In deference to Ireland’s parliamentary process, the IMF has decided to postpone consideration by its Board of the proposed loan under the Extended Fund Facility until after the debate.
Assuming parliamentary support for the package, the Managing Director could recommend approval by the IMF Executive Board of the proposed €22.5bn IMF loan as early as 16 December.
Fianna Fáil TD Mattie McGrath said that he will vote against the deal.
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