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Risks remain for Irish economic recovery, says IMF

The Ulster bank and the financial district in Dublin, Ireland on December 11, 2013Ireland faces significant challenges as it begins a tentative economic recovery, the International Monetary Fund said Wednesday in its first review since Dublin exited an international bailout programme in December. “Following a smooth exit from the EU-IMF supported programme, strong job creation and other indicators suggest Ireland’s economic recovery is broadening,” the IMF said in a staff report. Ireland was forced to turn to the European Union and the IMF for an 85-billion-euro ($115 billion) rescue in 2010 after a banking crash and the bursting of a property bubble, but regained investor confidence after it cut spending and raised taxes.

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