IMF: Ireland needs deal on promissory notes
The International Monetary Fund has stated that a deal on Ireland's promissory notes is needed to help Ireland regain market access.
The IMF's staff report on its last visit here in April praises Ireland's implementation of the programme, saying it has been steadfast.
It said that the subject of promissory notes needs to be dealt with in a timely manner in order to enhance prospects for Ireland to regain market access, and that a deal would also be beneficial for the euro area in general.
In a clear reference to a possible division in the Troika on the issue, it stated stronger European support is needed as part of a broader euro area plan.
Craig Beaumont, head of the Ireland programme at the IMF, said that although talks are ongoing, no firm timetable has been agreed for resolving the promissory notes issue.
He also warned that Ireland risks continued high unemployment, weak growth and that some bond yields are higher now than at the beginning of the bailout process.
