Successful completion of 12th and Final Review Mission of the EU/ IMF Programme

Ireland has successfully concluded the 12th and final review mission of the Programme with the EU Commission, the ECB and the IMF. This represents a significant milestone on Ireland recovery. In line with each of the previous quarterly missions Ireland has continued to achieve all of the targets set under our programme of assistance.

On welcoming the successful conclusion of the 12th and final review mission, Minister Noonan and Minister Howlin stated:

“This is a significant day, that many thought, and some feared, would never be reached. The effort of the Irish people in working towards this goal has been unprecedented.

Having been frozen out of the financial markets three years ago, we have now successfully laid the foundations for exiting the EU/IMF programme on December 15 of this year and for making a full return to the markets.

Over 260 actions have been completed under the programme. Stability has been restored to the public finances, the economy is growing, and most importantly, over 3,000 jobs are being created each month. Over the course of the programme, a wide range of structural reforms have been introduced across the public service, the economy and the financial system.”

Budget 2011 to Budget 2014 implemented consolidation measures of almost €16.4 billion this represents almost 9.6% of the forecast GDP for 2014.