Baku - APA-Economics. The International Monetary Fund has approved a €1.4bn (£1.13bn) disbursement to Ireland under a three-year IMF-EU rescue loan and cautioned that the broader euro-zone debt crisis could dampen the country’s export-led recovery, APA reports citing Reuters.
"Ireland’s policy implementation has continued to be steadfast and ownership of the program remains strong despite the considerable challenges the country is facing," the IMF said in a statement.
"However, as financial tensions in the euro area have resurfaced, Irish sovereign bond spreads have risen in recent months to exceed the level at the outset of the EU-IMF program," the fund added.
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