Republic of Ireland: Financial Support

House of Lords written question – answered at on 26 April 2011.

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Photo of Lord Laird Lord Laird UUP

To ask Her Majesty's Government, further to the Written Answer by Lord Sassoon on 7 February (WA 35) concerning loans to the Republic of Ireland, what are the "stated macroeconomic goals of the package"; and what is the economic nature of problems the package aims to address.

Photo of Lord Sassoon Lord Sassoon The Commercial Secretary to the Treasury

The International Monetary Fund (IMF) paper on Ireland's request for an extended arrangement states that the "program aims to restore Ireland's banking system to health and put its public finances on a sound footing, thus renewing confidence and a return to strong, sustained growth".

The full paper is published on the IMF's website, and available at the following link: http://www.imforg/external/pubs/ft/scr/2010/cr10366.pdf.

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