IMF gives Ireland mixed review in latest report card

The IMF has completed its latest review of Ireland's bailout programme and approved a €770m pay-out.

The group's 11th review of the bailout gives a mixed review on the state of the economy.

It said that Ireland is meeting the targets set out in last year's Budget, anticipating that our deficit will stand at 6.8% of GDP by year's end.

Our economy grew by 0.4% in the second quarter - but is down by 1.2% year-on-year - because of a slump in exports as well as poor domestic demand.

It also outlined that more than a quarter of the portfolios of the country's banks are non-performing.

On the jobs front, employment is on the rise, up 1.8% year-on-year, and the IMF said that it believes that rate will increase in the second half of 2013.

In the banking sector, the IMF said that the lenders are "gradually returning" to profitability, but it has warned that over 26% of the banks portfolios are non-performing loans.

The review is likely to increase pressure on the Finance Minister to outline the exact size of Budget 2014.

The IMF's full review due out later today.