Advertisement

News

Govt wants to pay IMF loans back early

The Government is reported to be in talks about repaying some of its bailout loans early - in a move...
TodayFM
TodayFM

6:50 AM - 25 Jul 2014



Govt wants to pay IMF loans ba...

News

Govt wants to pay IMF loans back early

TodayFM
TodayFM

6:50 AM - 25 Jul 2014



The Government is reported to be in talks about repaying some of its bailout loans early - in a move that could save the exchequer billions.

The Irish Times says discussions have been taking place behind the scenes - for the decision that would require approval from EU member states.

Ireland is currently paying about one billion a year in interest on the IMF portion of its loans - the most expensive segment of the 64 billion euro bailout.

It's unlikely a formal decision would take place before the autumn, meaning a change would not be expected before October's budget.

Meanwhile, speaking in Dublin yesterday, the German Chancellor's advisor Joachim Pfeiffer, said there's no hope of the Government getting a deal on the 64 billion euro bailout.

Irish Times European Correspondent, Suzanne Lynch, says Germany has never supported the idea of the retrospective recapitalisation of the banks through the European Stability Mechanism:

 

 



Read more about

News

You might like