IMF lends Ireland $2.1 bn in bailout package

September 3rd, 2011 - 3:21 pm ICT by IANS  

Washington, Sep 3 (IANS/RIA Novosti) The International Monetary Fund (IMF) has provided Ireland with a third bailout package of $2.11 billion under an international rescue deal.

“The arrangement for Ireland, which was approved Dec 16, 2010… is a part of a financing package amounting to 85 billion euros (about $123 billion) also supported by Ireland’s European partners … and bilateral loans from the United Kingdom, Sweden and Denmark, and Ireland’s own contributions,” the IMF said in a press release.

Ireland was badly hit by the 2008 financial crisis.

The programme to rescue Irish banks is aimed at their recapitalization in 2011-13 to reach the credit-deposit ratio of 122 percent and bring the capital adequacy ratio to 10.5 percent by the end of the bailout period.

–IANS/RIA Novosti
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