October 5, 2011 / 12:35 PM / 7 years ago

Ireland does not need dramatic austerity steps:IMF

DUBLIN, Oct 5 (Reuters) - The International Monetary Fund is happy with Ireland’s progress under its bailout programme and does not believe the government needs to take radical extra measures, such as ramping up its austerity targets.

“We are not recommending they go a lot further, a steady implementation of the measures is exactly right,” the IMF’s European Department Director Antonio Borges told national broadcaster RTE when asked whether Ireland should take precautionary steps and accelerate its bailout programme.

“We don’t think this is the time to be considering additional dramatic measures.”

Ireland’s government is considering making a deeper fiscal adjustment than planned next year in a bid to further distinguish itself from Greece and build on its recent bond market rally. (Reporting by Carmel Crimmins and Padraic Halpin; editing by Anna Willard)

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