Ex-IMF deputy director: No way IMF would fund Ireland separately

Ex-IMF deputy director: No way IMF would fund Ireland separately

The former deputy director of the International Monetary Fund has said there is a more-than 50% chance that Ireland will need more financial aid from Europe in the coming years.

Donal Donovan's comments come as campaigners for the no vote in the forthcoming EU Fiscal Treaty referendum said the Government was "scare-mongering" people into voting yes by suggesting we would no longer receive bailout funds from the EU and the IMF if we reject the Treaty.

However, Mr Donovan said it was true that the IMF would not lend any more money to Ireland if we vote no in the May 31 referendum.

"The IMF has made it pretty clear throughout this euro debt crisis that they only go in in partnership with Europe," he said.

"That's because they don't want to put their money at risk…The IMF is very worried about getting repaid, it's a big concern.

"If the Europeans are not willing to take the risk to lend to Ireland, there's no way, in my view, that the IMF will be able to do it."

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