Ireland: Request for an Extended Arrangement-Staff Report; Staff Supplement; Staff Statement; and Press Release on the Executive Board Discussion.
Volume/Issue:
Volume 2010
Issue 366
Publication date: December 2010
ISBN: 9781455212897
$20.00
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Topics covered in this book
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Business and Economics , Banks and Banking , Exports and Imports , Money and Monetary Policy , Public Finance , ISCR , CR , PRSI contribution rate , IMF contribution , financing package , policy change , debt service burden , Credit , Commercial banks , Debt service , Europe , Global
Summary
The economic and financial pressures facing Ireland are intense. The banking sector is at the fulcrum of Ireland’s problems. The program, therefore, aims to restore the banking system. It will address structural problems and restore confidence. A leaner and more robust banking sector is the major objective. The program provides support in the transition through additional capital to banks. The credibility of the banking system will be bolstered by stringent stress and diagnostic tests. The substantial risks to the program will need to be actively managed.
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