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| IMF agrees 22.5bn euro loan for the Irish Republic | IMF agrees 22.5bn euro loan for the Irish Republic |
| (about 14 hours later) | |
| The International Monetary Fund (IMF) has approved a three-year loan of 22.5bn euros ($30.1bn; £19.2bn) for the Republic of Ireland. | |
| The funds form the first part of the IMF's contribution to the EU and IMF rescue package totalling 85bn euros being received by the Irish Republic. | The funds form the first part of the IMF's contribution to the EU and IMF rescue package totalling 85bn euros being received by the Irish Republic. |
| About 5.8bn euros of the IMF funds will be immediately available for Dublin. | About 5.8bn euros of the IMF funds will be immediately available for Dublin. |
| Irish MPs voted to accept the EU-IMF bail-out this week, as the government seeks to restore its finances. | Irish MPs voted to accept the EU-IMF bail-out this week, as the government seeks to restore its finances. |
| The Irish Republic is trying to reduce its high public deficit and large overall debt. | The Irish Republic is trying to reduce its high public deficit and large overall debt. |
| It is also having to shore up the country's banks, which have been left with significant bad debts following the collapse of the country's property market. | It is also having to shore up the country's banks, which have been left with significant bad debts following the collapse of the country's property market. |
| As a condition of receiving the EU-IMF rescue package, the Irish government has had to unveil substantial spending cuts, which has sparked a number of protests. | As a condition of receiving the EU-IMF rescue package, the Irish government has had to unveil substantial spending cuts, which has sparked a number of protests. |
| The IMF announcement came as EU leaders agreed to set up a permanent mechanism to bail out any member state whose debt problems threaten the 16-nation eurozone. | The IMF announcement came as EU leaders agreed to set up a permanent mechanism to bail out any member state whose debt problems threaten the 16-nation eurozone. |
| The eurozone stability mechanism will require a change to the EU's Lisbon Treaty - but the wording has now been agreed, diplomats say. | The eurozone stability mechanism will require a change to the EU's Lisbon Treaty - but the wording has now been agreed, diplomats say. |
| Meanwhile, official figures from the Irish Republic have showed that its economy returned to growth between July and September, expanding by 0.5% on the previous three months. | Meanwhile, official figures from the Irish Republic have showed that its economy returned to growth between July and September, expanding by 0.5% on the previous three months. |