The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
Ireland continues to achieve spectacular economic growth. Strains associated with the rapid growth have become more visible. Fiscal policy should be tightened to restrain excess demand pressures. Strict adherence to the agreed wage increases under the Programme for Prosperity and Fairness (PPF) is critical. The government's plans to simplify the tax structure are commended. Ireland's participation in the Financial Sector Assessment Program (FSAP) pilot project is commended. The sustained rapid growth in private sector lending requires vigilance. The government support for trade liberalization process is welcome.