Michael Noonan (Limerick City, Fine Gael)

As the Deputy will be aware, the latest review mission by the external partners is currently taking place. It began yesterday, Tuesday, 17 April and will continue until Thursday, 26 April. The review mission comprises of a significant number of meetings designed to evaluate all the elements of the programme covering fiscal developments, the macroeconomic outlook, progress on commitments regarding restructuring the financial sector and structural reform.

After the mission to Ireland is concluded, staff reports will be sent to the ECOFIN Council and the IMF executive board for approval, thus facilitating the next round of disbursements of EU-IMF funding.

Verification of the relevant quarterly targets forms a key part of the mission. The Government has repeatedly stated its commitment to the programme targets. Meeting these conditions on time and on target is the best way to ensure we emerge successfully from this programme, which is our primary focus. That would mean we can return safely to the financial markets for funding in as timely a manner as possible. This is one of the principal objectives of the programme. The Government's commitment to the programme does not stop us from seeking and agreeing changes to aspects of the programme. We have already done this successfully. The Government will continue to do so at the appropriate time.

Following each review mission, and arising from detailed and lengthy discussions with the troika team during it, revised versions of the programme documents, including the Memorandum of Understanding on Specific Economic Policy Conditionality, are prepared by my officials before being submitted to the external partners. It would be premature at this stage to comment on the possible outcome of these discussions.

However, it is also important to note that the relevant programme documents are made publically available at the end of the process.

See this speech in context