Lagarde: 'We don't invent new terms' for bailout loans
The head of the IMF Christine Lagarde has said there will be no special concessions on the IMF portion of Ireland's bailout loans.
Speaking after a meeting with the Finance Minister Michael Noonan and the Tánaiste Eamon Gilmore, Ms Lagarde said the IMF has to operate "in an even-handed way" and "within its own rules".
Ireland is currently negotiating an extention of the term of the bailout loans which were given by fellow EU members.
However, Ms Lagarde said special ad hoc terms on the IMF loans would not be invented for countries like Ireland.
She said: "We don't invent new terms and new policies on an ad hoc basis.
"We will look at tall the options available to make sure we comply with those requirements; even-handedness, the rule of law and obviously what is favourable for our member, and clearly Ireland is one of those members."
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