IMF: Strong but 'two-speed' recovery for Ireland is under way

Domestic side of the economy that has been worst hit by Covid health restrictions will take longer to recover, while the IT and pharma multinationals will continue with their exporting boom, report says

The domestic economy will grow less robustly than the IT and pharma sectors, and take a while longer to recover, IMF says. Picture: Dan Linehan

Ireland's economy is getting out of the Covid slump at a rapid pace as the vaccines are rolled out, but an uneven rebound suggests a two-speed recovery is underway, the IMF has said.

In an upbeat report, the fund said the domestic side of the economy that has been worst hit by the Covid health restrictions will take longer to recover, while the IT and pharma multinationals will continue with their exporting boom.