Oireachtas Joint and Select Committees
Thursday, 10 September 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Ajai Chopra:
You know, under an IMF programme, one needs to set objectives. All right? So, one needs to set and agree on these objectives and I think, you know, in the Irish context this was quite clear. It was, like, you know, improved financial sector soundness, address fiscal problems, get growth growing because, you know, without that, the other problems would just continue to be amplified, and to return to market access. Right?
Now within that, the specifics of, you know ... there might be different routes to meet those objectives and, typically, IMF programmes give quite a bit of leeway to the country authorities in choosing those specifics to be consistent with those objectives.
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