IMF Rate on Ireland Loan to Fall as Quota Share at Fund Rises
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The interest rate Ireland will pay the International Monetary Fund as part of a 22.5 billion-euro loan ($31.4 billion) will decline as a 2008 agreement boosting its say at the institution and giving the nation greater access to financing takes effect.
The average interest rate “at the peak level of access” under the loan will be 3.04 percent on credit outstanding less than three years, down from 3.17 percent, the IMF said in a statement today in Washington. The rate will be 3.85 percent on credit outstanding longer than three years, it said.