Economists have mixed views on IMF

THE response by Irish economists to the IMF report has been mixed, with Brian Devine of NCB saying the report told us nothing new.

Mr Devine also went one better than the IMF, arguing the total decline in output for the three years would be 14%, marginally higher than the 13.5% claim by the IMF, but in line with the OECD’s projections.

Finance Minister Brian Lenihan, who some say came well out of the assessment, described the report as a “realistic assessment” of the state we are in.