Minister for Finance Michael Noonan will meet the EU Commissioner for Economic and Monetary Affairs this afternoon amid indications that Ireland's request to repay part of its bailout loan early will be viewed favourably.
A senior EU source said this morning that officials from the other eurozone member states were "uniformly positive" about the request to repay €15 billion to the International Monetary Fund in respect of its €22 billion contribution to Ireland's 2010 bailout.
"The [EU] institutions are positive, it is good for the sovereign, for the stability of the [sovereign's] financial portfolio, and good for us," the official told reporters in Brussels.
The Government wants to replace the IMF loans with debt raised on the international markets, which it believes would attract a significantly lower interest rate than the 5% the IMF currently charges.
Experts estimate it could save the Government up to €400m per year.
It is understood the IMF is in favour of the idea, but since the €67bn bailout involved other EU and bilateral creditors then their approval is also required.
Mr Noonan is due to meet Klaus Regling, the head of the EU's permanent bailout fund, the European Stability Mechanism (ESM), in Luxembourg tomorrow.
He will then meet the head of the Eurogroup of eurozone finance ministers, Jeroen Dijsselbloem, in The Hague and ECB President Mario Draghi in Frankfurt.
The issue will also be discussed at a meeting of eurozone and EU finance ministers in Milan on Friday and Saturday.
The request will, however, require ratification by a handful of national parliaments or parliamentary committees, which could significantly delay the move.
If approved, it is understood the NTMA would borrow separate tranches amounting to €15bn on the international market to replace three quarters of the IMF loan.
The IMF would remain part of Ireland's post-programme surveillance system, alongside the European Commission and the ECB.
An EU official today suggested that if the Irish move was a success, then it was likely that Portugal would also apply for the facility.
Anda sedang membaca artikel tentang
'Positive' response to IMF loan proposal
Dengan url
http://newsdeadlineup.blogspot.com/2014/09/positive-response-to-imf-loan-proposal.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
'Positive' response to IMF loan proposal
namun jangan lupa untuk meletakkan link
'Positive' response to IMF loan proposal
sebagai sumbernya
0 komentar:
Posting Komentar