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Good news: Ireland passes first post-bailout review

The IMF had officials in Ireland, and they reckon we’re doing well.

Image: Mark Stedman/Photocall Ireland

IRELAND HAS PASSED the first review of our finances after exiting the bailout.

Officials of the IMF, ECB and European Commission all met with Irish officials this week, issuing positive statements about Ireland’s economy.

The reviews will continue until 75% of the EU-sourced financial assistance has been repaid.

Unlike the reviews that took place over the last three years, where the focus was on programme implementation, the focus of these missions is on Ireland’s ability to repay the outstanding loans.

In a joint statement this afternoon, Finance and Public Expenditure Ministers Michael Noonan and Brendan Howlin said the reviews proved Ireland was on the road to recovery.

Successfully exiting the EU-IMF programme last year was a key milestone on Ireland’s road to recovery.

“As we made very clear at the time, exiting the programme was not the end in itself and this Government remains fully committed to stabilising the public finances to ensure delivery of the highest quality of public services, growing the economy and most importantly, getting people back to work.

“The conclusion of this review will further reassure investors that Ireland’s economic recovery is strengthening.”

Read: Barroso: ‘The European Commission is one of Ireland’s best friends’

Read: Ireland’s post-bailout return to the bond markets raised €3.75 billion

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