merrion street

Finance Minister Michael Noonan this evening welcomed the IMF's first and second review. The Minister said...

I welcome the IMF Executive Boards' announcement that it has completed the first and second review of the Irish programme. The Government has been in office for just two months and has already made a number of significant changes by introducing a Jobs Initiative to assist those seeking employment and a new banking approach that shrinks our banks and focuses them on our domestic economy.

I am particularly pleased at the IMF's strong endorsement of the Government's approach: "Ireland's economic program is off to a strong start. Resolute policy implementation by the authorities has kept the program on track during a period of political change and an unsettled external environment."

The IMF has also noted that after only a few weeks in office the Government had announced comprehensive reforms to the domestic banks.

These decisive actions show how this Government has taken control and is implementing a policy that takes the aggressive action necessary to fix our economy and to generate the confidence required to create jobs.