Ireland: Staff Report for the 2006 Article IV Consultation

Author: International Monetary Fund

Volume/Issue: Volume 2006 Issue 293

Publication date: August 2006

ISBN: 9781451942620

$20.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Labor , Money and Monetary Policy , Public Finance , Business and Financial , ISCR , CR , debt , asset , Ireland , HICP inflation , widening current account deficit , real GNP growth , household debt , asset ratio , potential GDP , business income , return on equity , Credit , Mortgages , Wages , Europe , Global

Also of interest

Peru

Grenada

Nepal

Republic of Congo : 2001 Article IV

Summary

The 2006 Article IV Consultation found that the financial system in Ireland continues to perform well but rapid credit growth is a vulnerability. Central Bank officials noted that recent stress tests indicate that the major lenders have adequate buffers to cover a range of shocks. The Financial Regulator observed that the risk weighting on high loan-to-value mortgages was increased, consistent with the advice of the Financial Sector Assessment Program (FSAP) Update mission. The general government fiscal position has been either close to balance or in surplus for the past decade.