Ireland wants to repay IMF loans before eurozone bailout fund

Ireland wanted to reduce the cost of carrying its debt by repaying the more expensive IMF loans early, before it repaid the aid from the eurozone bailout fund, but needed agreement from its partners in Europe to change the repayment terms.

The IMF was in favour of Ireland refinancing its bailout loans and Dublin wanted to start the process in 2014 if Europe agreed, finance minister Michael Noonan said on the 28 July 2014.

ESO: Background information: EU urges Ireland to maintain austerity http://www.europeansources.info/record/eu-urges-ireland-to-maintain-austerity/

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