Dáil Éireann debate -
Thursday, 13 Feb 1997

Vol. 474 No. 8

Written Answers. - Enhanced Structural Adjustment Facility.

Trevor Sargent

Question:

26 Mr. Sargent asked the Minister for Finance the reason the Government's current legislation programme, contains the Bretton Woods Agreement (Amendment) Bill to enable an Irish contribution to be made to the Enhanced Structural Adjustment Facility Successor of IMF in view of his decision of July 1996 that Ireland would not contribute to the IMF's Enhanced Structural Adjustment Facility in advance of a satisfactory operational implementation of a comprehensive debt relief framework. [4009/97]

Minister for Finance (Mr. Quinn)

My decision of July 1996 that Ireland would not contribute to the IMF's enhanced structural adjustment facility in advance of a satisfactory operational implementation of a comprehensive debt relief framework still stands.

I confirmed my decision by letter on 26 August 1996 to Mr. Camdessus, the managing director of the International Monetary Fund. In my letter, I informed Mr. Camdessus that Ireland's participation in ESAF would need to follow rather than precede the implementation of the debt relief initiative.

I would like to assure the Deputy that this remains my position in the matter.