| 18.9°C Dublin

IMF hails progress in Irish economy

The International Monetary Fund said it is disbursing $2.24bn (€1.58bn) more in loans to Ireland after determining the country is making progress toward overcoming its worst economic crisis in recent history.

The agency said that with the latest disbursement, Ireland has received $10.19bn (€7.20bn) under a three-year IMF rescue package approved in December for a total of about $30.9bn (€21.8bn).

The European Union is also providing about $90bn in bailout loans to Ireland.

The IMF said Ireland is making a strong start toward putting its battered economy on track.

PA Media