(European Economy. Occasional Papers. 96. June 2012.
Brussels. Paper and internet. 62pp. Tab. Ann. )
KC-AH-12-096-EN-N ISBN: 978-92-79-22874-2
Report on programme review of the EU-IMF financial assistance for Ireland ; a description of changes introduced to future programme conditionality; and the fiscal and economic outlook for Ireland.
A joint EC/IMF/ECB mission visited Dublin between 17-26 April 2012 to conduct the sixth review mission under the Economic Adjustment Programme. The mission found that programme implementation remains strong, tough important risks and challenges remain, mainly due to still fragile investor sentiment towards Ireland and continued uncertainties in the outlook for growth and debt sustainability in euro area member states.
This report by European Commission services provides a summary of the main findings of the mission, including an assessment of compliance with the programme conditionality, and an overview of challenges faced by Ireland in the period ahead. This document contains in annex the updated programme documents.
The overall positive assessment of compliance paves the way for the release of EUR 2.3 billion from the EFSM, EUR 1.4 billion from the IMF and around EUR 0.5 billion from a bilateral loan from the UK