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IMF Rule Out Renegotiating Austerity Programme - Ferris

23 December, 2010 - by Martin Ferris TD


Sinn Féin have said that the IMF have effectively ruled out any future re-negotiation of the interest rate or the substantive details of the bailout.  Sinn Féin Workers Rights Spokesperson Martin Ferris was responding to details of a conference call on Ireland at which Ajai Chopra answered questions regarding aspects of the Irish package.

When asked whether a future Government could renegotiate the interest rate on the IMF loan, Chopra emphatically ruled that out.

He also said that he did not believe that there was anything in the policies of Fine Gael and Labour that would prevent them implementing the programme and that the only discussion could be within the context of implementing the 'overall objectives of the program.'

 Deputy Ferris said:

"Chopra's comments prove that there can be no renegotiation of the IMF programme. Either you accept it or reject it. The question facing both Fine Gael and Labour now is whether they are prepared to put on the straitjacket or whether they will follow our example and tell the IMF to go home. There is no other choice and Chopra's other reference to the possibility of even more severe cuts becoming necessary before 2015 prove that the IMF will impose an economic and social nightmare on this state.

"Unfortunately recent comments by Labour spokespersons, including an attack by Pat Rabbitte on Sinn Féin for being 'anti IMF' would appear to indicate that Labour has already decided which way to turn." ENDS

(A transcript of the IMF conference call is available on their website.)

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