IMF positive despite slower growth

THE International Monetary Fund (IMF) says there are signs of a turnaround in Ireland, but it has downgraded its growth expectations for the economy.

Although it sees some positive signs in Ireland it expects the economy to grow 0.5% this year compared with a previous forecast of 0.9% in December 2010.

It said that a decision on changing the interest rates charged to countries under the EU’s bailout rules is “urgently needed”.