July 28, 2014 / 3:00 PM / 3 years ago

Irish Fin Min says IMF backs Dublin refinancing its loans

DUBLIN, July 28 (Reuters) - The International Monetary Fund (IMF) is in favour of Ireland refinancing its bailout loans and Dublin would like to begin the process this year if it can get agreement in Europe, the country’s finance minister said on Monday.

Ireland is seeking to repay its more expensive IMF loans early before its aid from the euro zone bailout fund but needs agreement from its partners in Europe to change the repayment terms.

“The IMF are in favour of what we want to do, I had a short discussion with Christine (Lagarde) and now we need to talk to our various partners in Europe,” Michael Noonan told a news conference, adding that most of his EU colleagues were in favour in principle.

Reporting by Padraic Halpin; editing by Kate Holton

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