Ireland: Eleventh Review Under the Extended Arrangement

International Monetary Fund

No 2013/305, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses Ireland’s Eleventh Review Under the Extended Arrangement. Policy implementation remains on track but recent weak GDP data point to a slower growth recovery. Real GDP declined in the first quarter, reflecting a fall in exports and weak domestic demand. Nonetheless, fiscal results remain on track and sovereign and bank bond yields have risen relatively modestly in response to declining global risk appetite. A range of other economic indicators are more encouraging, suggesting lower but still positive growth in 2013, though uncertainty remains. Growth projections for 2014 are also lowered. The IMF staff supports the authorities’ request for completion of the eleventh review.

Keywords: ISCR; CR; bank statement; target; solution; growth; concluded solution; Ireland's IMF quota; ratings agency Moody's; expectations of the bank; loan portfolio; disbursement of an amount equivalent to SDR; Mortgages; Credit; Arrears; Loans; Global (search for similar items in EconPapers)
Pages: 96
Date: 2013-10-04
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