Arab Today, arab today imf lends ireland 21 bln in bailout package
Last Updated : GMT 23:12:04
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IMF lends Ireland $2.1 bln in bailout package

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Arab Today, arab today IMF lends Ireland $2.1 bln in bailout package

Washington - 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 on December 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 program to rescue Irish banks is aimed at their recapitalization in 2011-2013 to reach the credit-deposit ratio of 122% and bring the capital adequacy ratio to 10.5% by the end of the bailout period.

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