Bailout continues as Ireland to get €3bn from EU and €3.2bn from IMF

The EU raised €3bn for Ireland with very strong investor demand, while the IMF has approved its latest disbursement of €3.2bn under the bailout programme.

The money will be paid over to Ireland next month, ahead of the repayment of €3.1bn on the Anglo Irish Bank promissory notes due on Mar 31.

The IMF warned that with Irish growth predicted to be just 0.5% this year, the challenges facing the country have increased since the start of the programme last year. Their comments differ slightly from the EU in that they are not urging further budget cuts to ensure the deficit targets are met.