A positive IMF Statement
Irish Export growth steadily increasing
The International Monetary Fund in a press release on May 11th stated that Irelands export growth is picking up sharply and competiveness indicators are improving. These are key factors in the development of a vibrant tradable sector. In its outlook regarding Europe, the IMF has stated that the economic landscape is somewhat varied while referring to Ireland as an “afflicted” country stated that efforts to work off large pre-crisis imbalances persist.
The IMF remains extremely confident about the prospects for the European economy and that all its projections for the coming months are quite positive with a “remarkable export performance among some of Europe’s core countries”. It is clear that Europe is benefitting greatly from the general global recovery that is underway however it is of great importance that radical policy must be initiated to restore fiscal health and address weaknesses in the financial sector.
The IMF has projected growth for Europe at 2.4% and 2.7 for 2011.
John McCarrick
John McCarrick and Associates
11 Dunville Avenue, Rathmines
Dublin 6,Ireland
Telephone:01 4960102
Fax: 01 4973717
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