Tags: EU | Ireland | Financial | Crisis

EU, IMF: Ireland Has Passed First Bailout Test

Friday, 15 Apr 2011 08:55 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

European and International Monetary Fund experts say Ireland is fully meeting its end of the bailout agreement and will receive the next round of emergency funding to cover its deficit and bank-bailout efforts.

The experts completed a 10-day negotiation Friday with Ireland's newly elected government.

In a statement they said Ireland's commitment to slash spending and raise taxes "is on track but challenges remain and steadfast policy implementation will be key."

Ireland in November negotiated a 67.5 billion euro ($98 billion) credit line from global donors on condition it slashes 15 billion euros from deficits in coming years.

Ireland already has received more than 10 billion euros. Friday's announcement means 4.5 billion euros more will arrive in Irish coffers within weeks.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 

You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved