The International Monetary Fund (IMF) has provided Ireland with a third bailout package of $2.11 billion under an international rescue deal.
"The arrangement for Ireland, which was approved on December 16, 2010... is a part of a financing package amounting to 85 billion euros (about $123 billion) also supported by Ireland's European partners ... and bilateral loans from the United Kingdom, Sweden and Denmark, and Ireland's own contributions," the IMF said in a press release.
Ireland was badly hit by the 2008 financial crisis. The program to rescue Irish banks is aimed at their recapitalization in 2011-2013 to reach the credit-deposit ratio of 122% and bring the capital adequacy ratio to 10.5% by the end of the bailout period.
