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IMF releases another 2.11 billion dollars for Irish bailout
Sep 3, 2011, 1:16 GMT
Washington - The International Monetary Fund released the latest tranche Friday of 1.48 billion euros (2.11 billion dollars) to Ireland as part of an IMF-European Union bailout for the debt-ridden government in Dublin.
The instalment is part of an 85-billion-euro rescue package.
The IMF praised the government's ongoing austerity and reform efforts, and noted that Ireland's economy has shown signs of stabilizing along with improvements in financial markets.
A reorganization of the banking sector has progressed faster than anticipated when the new strategy was rolled out in March, the Washington-based international crisis lender said.
The latest tranche brings to 8.68 billion euros the total IMF assistance delivered to Ireland so far.
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