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IMF: Irish data quality standards being strengthened
Feb 11 2011, 09:34 AM
The International Monetary Fund (IMF) has said work to improve data quality standards in Ireland is ongoing.
In a report that stated the government has met the initial targets laid out for the country in its bailout plan, the IMF explained the goals had been met despite the difficult economic situation and political instability, reports the Irish Times.
The body added steps are being taken to ensure the planned fiscal programme for 2011 can be implemented as part of the recent Finance Bill.
"Efforts are under way to address the data gaps and strengthen data quality," the IMF said.
Minister for Finance Brian Lenihan welcomed the report but added "significant challenges lie ahead" as Ireland looks to reform its banking system.
Last month, it was announced that Irish banks will undergo data quality assessments as part of a review of their capital and liquidity levels.
The examinations will be conducted by external auditors appointed by the Central Bank of Ireland.
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