Micheál Martin (Cork South Central, Fianna Fail)
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222. To ask the Minister for Finance the position regarding the IMF retaining an office in Dublin; and if he will make a statement on the matter. [2181/14]

Michael Noonan (Limerick City, Fine Gael)
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Our EU-IMF programme of assistance provided €67.5 billion in loans from the external lenders, of which the IMF provided €22.5 billion.

The IMF established a resident office here in autumn 2011, as a consequence of Ireland being in receipt of IMF assistance. The resident representative is a normal feature of IMF support programmes, particularly in the case of programmes involving significant amounts of IMF funding such as our own. The IMF has resident representatives in almost all countries where it provides financial support, including more than a dozen in Europe.  

The resident representative provides a liaison between the IMF and the country authorities, builds relationships with non-officials, and helps the IMF deepen their understanding of conditions on the ground. The resident representative plays an important role in explaining the views of the IMF and by keeping the IMF abreast of economic and social developments in the country.

Towards the latter half of 2013, as our programme was drawing to a close the IMF contacted my Department about maintaining the resident representative office for a period after the end of the programme.  The IMF indicated that it is considered normal practice for such offices to remain for a period of time (12 to 18 months) after the end of a programme.  In these circumstances, and considering that we have an ongoing relationship with the IMF outside the programme, it is reasonable that the office should remain in place for 2014.