Vol. 461 No. 3
54 Mr. Lawlor asked the Minister for Finance if he is committed to Ireland's contribution to the Enhanced Structural Adjustment Facility operated by the International Monetary Fund in view of the disquiet regarding, what are perceived to be, punitive, conditions imposed upon Third World countries which are recipients of concessional loans under the ESAF; and if he will make a statement on the matter. [2823/96]
The Government decided in 1994 to contribute to the Enhanced Structural Adjustment Facility and the IMF was notified accordingly. Such a contribution would require enabling legislation to be put before the Oireachtas.
I am aware that a number of organisations have expressed opposition to Ireland's making such a contribution, arguing that the macroeconomic conditions which the IMF typically attaches to ESAF loans have unduly harsh social effects. I am reviewing the position having regard to these representations and the broad acceptance of the other members of the IMF (including our EU partners) of the need for assistance for Third World countries to facilitate the restructuring of their economies by way of the facility referred to.
