Irish policymakers have gained significant credibility, through assertive steps, to deal with the most potent sources of vulnerability. A continuation of vigorous policy efforts is required with an emphasis on risk management. Much progress has been made on the financial stability agenda, but a...

Over the past decade, Ireland has experienced a sustained expansion in output and employment that has raised its per capita income above the ED average. The decline in interest rates, and increasing financial sector competition, rapidly rising disposable income, and high rates of household...

This 2002 Article IV Consultation highlights that GDP growth of Ireland declined to almost 6 percent in 2001 from 111⁄2 percent the year before, reflecting the global slowdown and the Information and Communications Technologies (ICT) shock as well as foot-and-mouth disease-related...

This 2005 Article IV Consultation for Ireland reports that economic performance has been impressive, owing in significant measure to sound policies. In line with the global cycle, growth picked up strongly in 2004. Rapid employment growth has been supported by immigration, so the unemployment...

The 2006 Article IV Consultation found that the financial system in Ireland continues to perform well but rapid credit growth is a vulnerability. Central Bank officials noted that recent stress tests indicate that the major lenders have adequate buffers to cover a range of shocks. The Financial...

Following years as a star performer, Ireland is undergoing a painful adjustment as critical internal imbalances unwind. This 2009 Article IV Consultation highlights that the banking system of Ireland is under considerable stress as asset quality has deteriorated and the global financial crisis...

Ireland continues to achieve spectacular economic growth. Strains associated with the rapid growth have become more visible. Fiscal policy should be tightened to restrain excess demand pressures. Strict adherence to the agreed wage increases under the Programme for Prosperity and Fairness (PPF)...

The Irish authorities are adopting consolidation measures to meet the original fiscal targets as well as implementing structural reforms in the labor market and sheltered sectors to enhance competitiveness. Strengthened euro area support for Ireland’s growth and debt sustainability would...

This 1999 Article IV Consultation highlights that the Danish economy continued to perform well in 1997–98. Real GDP growth of about 3 percent remained above potential and unemployment fell to 6 percent, less than half its level only five years earlier. Consumer price inflation remained subdued...

The Irish authorities steadfastly maintained strong policy implementation despite a sharp escalation and expansion of stress in euro area sovereign bond markets. Strengthened European support is welcome, but early implementation is key, and restoring broader stability in the euro area is...