Troika give thumbs up to Ireland but IMF finds holes in Greek plan

Julian Harris
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THE SO-CALLED Troika of international bailout providers yesterday gave Ireland a relatively clean bill of health after conducting a nine day long review mission in the Eurozone state.

Despite “challenging macroeconomic conditions”, Ireland’s policies remain on track following the bailout supplied by the Troika, which comprises the International Monetary Fund (IMF), EU and European Central Bank (ECB).

While growth is set to remain “modest” and unemployment is “very high”, the Troika said: “Ireland’s programme implementation remains strong”.

“The recent notable decline in bond yields underlines the increasing confidence in Ireland’s strong capacity to implement adjustment policies,” it said.

Meanwhile, the IMF said yesterday that it had found policy delays in a number of areas of the Greek bailout programme.

The rescue fund was commenting after talks in Greece which could lead to more lenient conditions for the country’s bailout package. “So far, some targets were met, a number were missed, and in some cases we don’t have data to assess and will have to wait a little longer to get the full picture,” the IMF said.