The Straits Times
Published on Dec 18, 2012

Ireland gets $1.43b from IMF after review


WASHINGTON (AFP) - The International Monetary Fund (IMF) disbursed a fresh $1.17 billion (S$1.43 billion) to Ireland on Monday, approving the country's progress under its two-year-old rescue program.

The IMF said that Ireland had pushed ahead with policy reforms and deficit cutting despite a slowdown in growth this year.

It said it expected the country's fiscal deficit to fall under the 8.6 per cent of gross domestic product (GDP) target despite pressure to raise social welfare spending due to high joblessness.

The government's recently submitted 2013 budget aims to reduce that further to 7.5 per cent.