IMF to continue with office in Dublin after bailout

‘They’re staying on for about a year. This is standard practice,’ says department spokesman

IMF representative in Ireland Peter Breuer has kept a separate office in the headquarters of the Central Bank on Dame Street since autumn 2011. This arrangement is set to continue. Photograph: Matt Kavanagh

IMF representative in Ireland Peter Breuer has kept a separate office in the headquarters of the Central Bank on Dame Street since autumn 2011. This arrangement is set to continue. Photograph: Matt Kavanagh

Thu, Dec 12, 2013, 01:00

The International Monetary Fund will maintain an office in Dublin in the wake of the bailout, contrary to any expectation that its officials will leave when the rescue programme ends this weekend.

The IMF is the only one of the troika institutions not to have a permanent base in the city, the European Commission having its office on Dawson Street while the Central Bank of Ireland is part of the European Central Bank system.

IMF representative in Ireland Peter Breuer has kept a separate office in the headquarters of the Central Bank on Dame Street since autumn 2011. This arrangement is set to continue despite the bailout exit.

“They’re staying on for about a year. This is standard practice,” said a Department of Finance spokesman.


Future observation
Although there was no comment from the IMF, the body will carry out “post-programme monitoring” of the Irish economy for years to come. There will be two annual missions by IMF inspectors, one more than if there was no bailout.

In line with similar EU surveillance, the objective is to ensure the viability of the State’s economic framework and provide early warnings about any policy risks.

The IMF executive board discusses Ireland tomorrow with a view to releasing the final €600 million loan. Ireland has already received some €21.88 billion.

News - direct to your inbox

Which Daily Digest would you like?

Politics on Twitter

Connect