A sneak pre-view of the 4-year plan

Slí Eile: An interesting insight from former IMF director, Donal Donovan, is given here. He writes in the Irish Times, last Friday, that:

"These informal interactions – a common feature of such situations – are facilitated by the fact that most of the key personages are well known to each other as a result of interaction in other forums over the years.

So, my surmise is that yesterday the IMF team (which includes Ashoka Mody, who has led earlier IMF visits to Dublin) will have sat down with the latest drafts of the four-year and annual budget plan. (They will probably have had access to earlier versions also.)" (emphasis added)."

But what about Dáil Eireann? and what about Seán Citizen? A vital input to democratic debate is timely, relevant and reliable information. We have been poorly served on all three fronts. See for example a critique of the lack of adequate macro-economic data and forecasting capacity in the recent Joint Oireachtas Committee report here. Note, also, the extent to which false and misleading information served up the banks was cited as an issue by Fianna Fáil deputy Michael McGrath in a Dail committee hearing last Thursday. Misleading estimates of bad loans and underestimated discout rates costing billions have also been cited as a problem by Brendan Somers of NAMA.

Posted in: Economics • Fiscal policy • Fiscal policy

Tagged with: NAMA • departmentoffinance • imf