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Economy is still at risk, says IMF

THE IMF has warned Ireland is poorly insulated if there is an additional financial meltdown.

Ireland is placed alongside Iceland, Spain, Britain and the US in a list of countries where national debt is likely to become unsustainable based on past performance.

However, the country is ranked in the new report above Greece, Italy, Japan and Portugal and the IMF said that Ireland was unlikely to renege on its debts.

While a $1 trillion (€7,800bn) rescue plan crafted by European officials and the IMF have helped lower borrowing costs, Irish bond yields jumped to the highest since May last week after Standard & Poor's slashed the country's credit rating.


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