Wednesday 20 November 2019

IMF chief Christine Lagarde backs government sale of AIB

Niall O'Connor

Christine Lagarde has backed the government’s decision to prepare Allied Irish Bank (AIB) for sale.

The Managing Director of the International Monetary Fund (IMF) said there may be “more optimal ways” to deal with the issue of bank debt rather holding out for the prospect of retroactive recapitalisation.

“The Irish government should look at other options, including privatisations and staged privatisations,” she said.

Read more: IMF's Christine Lagarde sports Newbridge Silverware brooch at Dublin conference

“After all, it’s about getting your money back,” she added.

Ms Lagarde made the remarks during an IMF conference in Dublin Castle today.

Meanwhile, Finance Minister Michael Noonan warned against the prospect of extremes to the left and right gaining power domestically.

He said this sort of “political instability leads to economic instability,”  the minister said.

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