The IMF has completed its eleventh review of Ireland’s bail-out and approved a 770 million euro pay out.
The Troika lender says Ireland is meeting its fiscal targets set-out in last year’s Budget – with the deficit expected to be about 6.8% of GDP this year.
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It says our economy grew by 0.4% in the second quarter – but is down 1.2% year on year because of poor exports and as domestic decline continues.
The IMF also says Ireland’s banks are returning to profitability – but carry non-performing loans of over a quarter of their portfolios.
It says the authorities are continuing to inspect the banking sector ahead of Europe-wide stress tests next year.
