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Friday 20 October 2017

IMF back bailout deal

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THE International Monetary Fund would back a deal allowing Ireland to repay most of the bank's share of the bailout ahead of the European rescue funds, Michael Noonan said.

A deal is being actively considered to raise cash on the markets to repay €15bn of the more than €22bn that the Government owes to the IMF after the bank hiked interest rates to almost 5pc, he said. The planned deal, will require sign off from all euro zone member states as well as the UK, Sweden and Denmark.

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