IMF: State faces €16bn in fresh losses

The Government could be looking at €16bn in fresh losses through its stakes in the banking system and Nama, according to the IMF.

The potential losses, which would be the equivalent to 10% of GDP, are based on the economy failing to grow over the next few years. The IMF report was carried in yesterday’s Sunday Business Post.

The IMF’s ninth quarterly review of the economy, released on Wednesday, raised a number of concerns about Ireland’s ability to make a sustained re-entry to the market when it exits the bailout programme later this year.