IMF Says Ireland’s Ability to Sell Bonds Remains ‘Elusive’

The International Monetary Fund said Ireland’s ability to sell sovereign bonds remains “elusive” and its situation may worsen unless the European Union develops a more comprehensive plan to deal with the region’s debt crisis.

Ireland’s plan to stabilize its banks and reduce its deficit is “off to a strong start,” the Washington-based fund said in a review today of its aid agreement with Ireland. “This decisive approach to program implementation, which should be supported by a more comprehensive European plan, offers the best prospect to overcome market doubts.”