Question

How has Ireland been impacted by the International Monetary Fund (IMF), the World Bank, and/or the World Trade Organization? Is it one of the primary contributors and if so has it allowed funds to be transferred to other countries? If Ireland is a borrower, has its loan been productive? Why or why not? Are there any ethical concerns between Ireland and other nations?

Answer 1

After a bank crisis, Ireland is in the process of recovery. But still the recovery is not completed. Its most important aim is completing the recovery and spread more resources among the population. The high level rise in the number of multinational companies cause upwards shift in the output, but limited impact in the development of Irish economy. The future of Ireland was depending on the future relation between UK and European Union. This UK-EU relation influence the trade flows, financial flows and the mobility of labour also. The unemployment rates remain high in the Irish economy. And also low level of private consumption. The recover from this situation was occurred with the cooperation between IMF, EU and the Irish government. Most of the IMF and EU provided loans were granted by the Irish government.
Macro prudential tools and independent Financial Stability Committee are necessary to dampen the credit and housing cycles. After the recovery of the Irish economy, it emerged as a strong power which has the ability to influence IMF also. Thus the increasing influences improve the economic condition and development in Ireland. The efficient cooperation between the IMF and the WTO impact the extra power of the Irish economy in global level.