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Fears IMF may run economy

THE International Monetary Fund may be called in to run the Irish economy, according to a senior professor of business.

Earlier, IMF spokeswoman Conny Lotze said the agency "does not envisage that any IMF funding will be required for Ireland" and pointed out that Ireland's National Treasury Management Agency, which manages the national debt, has already secured funding for Government operations to the middle of next year, while the country has over €40bn in reserves. However, Professor of Banking and Finance at the Michael Smurfit Graduate School of Business Ray Kinsella (above) said that the IMF could be called in to run the economy unless there is a major change in Government policy.