Ireland may not need credit line to exit bailout

Following a meeting with the International Monetary Fund (IMF) on October 28, Ireland’s Finance Minister Michael Noonan said the country may decide not to request a precautionary credit line when it exits the troika bailout programme at the end of the year.

Noonan said the measure might not be needed following news earlier this month that the austerity programme had allowed Ireland to build up reserves totalling €25bn, which in turn has driven bond yields down to 3.5 per cent, reports The Irish Times.

He added that no final decision on the nature of the exit strategy would be made until a new German government had been formed, which is not likely until after a Social Democrat conference in November.

Read the extract here.

Read the original article at The Irish Times here.

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