Brendan Howlin (Wexford, Labour) | Oireachtas source

As the Deputy will be aware Ireland is in the final year of the EU-IMF programme of financial support. We successfully concluded the 11th review mission of our EU-IMF programme, and data released in the Exchequer statement on 2 October indicate that the Exchequer primary deficit target was met for the 12th consecutive quarter. In line with each of the previous quarterly reviews, Ireland has met all quantitative fiscal targets and our continued strong programme implementation has been recognised by the troika. Verification of the relevant quarterly targets forms a key part of the mission, and the Government has repeatedly stated that 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. It is important to build confidence in the State's ability to manage its debt and deficit to enable us to return with confidence to the financial markets for funding in as timely a manner as possible. This is one of the principal objectives of the programme.

I have regular interaction with the troika and have discussed all the elements of the programme including fiscal developments, the macroeconomic outlook, progress on commitments regarding restructuring the financial sector and structural reform. Following each review mission, and arising from detailed and lengthy discussions with the troika team, revised versions of the programme documents, including the memorandum of understanding on specific economic policy conditionality, are prepared by my Department and the Department of Finance along with the Central Bank in conjunction with the external partners. These programme documents are made publicly available on my Department's website.

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