Eamon Gilmore (Dún Laoghaire, Labour)

The Deputy asked about the statement made by the IMF on child benefit and other matters. The statement issued yesterday by the IMF is different from the quarterly review of the Irish programme carried out by the troika. The statement was issued under what is known as Article 4, which is a very different process from the quarterly troika programme review mission and has a different focus and rationale. The quarterly programme review by the IMF, the European Union and the ECB focuses on short-term issues and our adherence to the agreed commitments in the programme. The Article 4 process which was announced yesterday by the IMF has a strategic focus and considers medium to long-term policy themes.

We should welcome the comments made by the IMF on our steadfast efforts to deal with the banking crisis and implementation of fiscal consolidation measures, despite an adverse external environment that has tested confidence and delayed recovery. The IMF outlined medium to long-term recommendations to the Government. They were not made specifically in the context of next year's budget or the programme. The issue of next year's budget is one the Government has yet to address and at this point in the year it is not appropriate to speculate about what may be included in it.

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