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19/01/2012
Ireland Meets Bailout Demands Despite Concerns
The Government has announced Ireland has met the conditions of its bailout during the latest review of its EU/IMF programme.
Minister Michael Noonan and Public Expenditure & Reform Minister Brendan Howlin, made the announcement at a press conference at Government Buildings on Thursday.
Welcoming the conclusion of the review, Minister Noonan stated: "I and my Government colleagues are pleased that the staff mission has assessed the programme to be on track and that all measures in the programme have been fully implemented.
"This successful outcome illustrates the ability of the Irish State to implement a challenging programme effectively.
The Government said it was fully committed to putting the economy and public finances on a sustainable basis.
"Assisting the private sector to create jobs is our primary goal. We are broadening our tax base so as to ensure that we have the available funds to pay for the high quality public services that our citizens require. The Government wants to make sure that that the provision of quality public services is not subject to the every whim of the international money markets."
However, the IMF, EU and ECB said in a joint statement that Ireland still faced "considerable challenges", as domestic demand remained subdued, unemployment high, and growth in its main trading partners was slowing.
As a result, projected GDP growth for 2012 has been revised down to 0.5%, from an estimated 1% in 2011.
(DW)
Minister Michael Noonan and Public Expenditure & Reform Minister Brendan Howlin, made the announcement at a press conference at Government Buildings on Thursday.
Welcoming the conclusion of the review, Minister Noonan stated: "I and my Government colleagues are pleased that the staff mission has assessed the programme to be on track and that all measures in the programme have been fully implemented.
"This successful outcome illustrates the ability of the Irish State to implement a challenging programme effectively.
The Government said it was fully committed to putting the economy and public finances on a sustainable basis.
"Assisting the private sector to create jobs is our primary goal. We are broadening our tax base so as to ensure that we have the available funds to pay for the high quality public services that our citizens require. The Government wants to make sure that that the provision of quality public services is not subject to the every whim of the international money markets."
However, the IMF, EU and ECB said in a joint statement that Ireland still faced "considerable challenges", as domestic demand remained subdued, unemployment high, and growth in its main trading partners was slowing.
As a result, projected GDP growth for 2012 has been revised down to 0.5%, from an estimated 1% in 2011.
(DW)
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