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Commission publishes final review of programme for Ireland - gives green light for final disbursement
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13/12/2013 12:30:21

Today the Commission adopted a decision authorising the final disbursement under the financial assistance programme for Ireland. The disbursement amounts to €0.8 billion (from the EFSM) out of a total of €67.5 made available over the past three years from the EFSM, the EFSF, the IMF and bilateral loans. Alongside European lenders, the IMF will also disburse the last payment of €0.6 billion under the programme.

    Commission President José Manuel Barroso

    In parallel, the Commission publishes the 12th and final report reviewing implementation of the EU-IMF financial assistance programme for Ireland. The report gives an overview of the country's very good programme performance over the last three years and details recent economic developments and outlook for Ireland. The final review mission (that took place in Dublin 29 October – 7 November) concluded that programme implementation remains robust overall, although there remain domestic vulnerabilities and external risks which require on-going commitment from the authorities to reforms after the programme expires.

    President Barroso said (full statement here): "I congratulate the Irish government and the Irish people for this achievement. Thanks to their efforts and sacrifices, Ireland will now be able to finance itself through its own efforts. Today's result would not have been possible without the solidarity and significant financial support of the other EU Member States. I would also like to pay tribute the efforts and contribution of the European Central Bank and the International Monetary Fund to the wide-ranging reform programme, which has now been successfully completed."

    Vice-President Rehn said following the last Eurogroup, "the successful conclusion of the Irish programme is a strong signal that our common response to the crisis is delivering results."

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    Last update: 17/12/2013  |Top