Minister’s Brief

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3.2.5.1 Management of Ireland’s relationship with, and shareholding in, International Financial Institutions and Climate Change Principal Officer: Fred Cooper Paul Ryan Director International Institutions Fred Cooper Principal Officer International Financial Institutions - IFIs (World Bank, IMF, EIB,EBRD, CEDB, ADB, OECD) Vacancy Assistant Principal International Financial Institutions - IFIs (World Bank, IMF, EIB,EBRD, CEDB, ADB, OECD) Frank Maughan Assistant Principal International Financial Institutions IFLs (World Bank, IMF, EIB, EBRD, CEDB, ADB, OECD) General Ireland’s objectives for our membership of International Financial Institutions (IFIs) are: to influence individual IFI strategies and polices so as to promote Ireland’s economic and diplomatic objectives and interests; to ensure coherence, effectiveness and value-for-money across our IFI membership; and to secure optimum levels of investment financing from the EIB and CEB. Ireland’s membership of each IFI is provided for in Acts of the Oireachtas, with membership entailing voting rights based on shareholding which is represented by our capital subscription. This is normally divided between: paid-in capital, which is the capital that an IFI member country must pay up-front in respect of its membership; and callable capital, which represents the capital which a member would be liable for if the institution encountered acute financial distress. In addition to IFI shareholdings, Ireland also contributes to various funds established under the IFIs for specific objectives. Page 154 of 184
Key Points: International Monetary Fund (IMF): (1) 2016 Article IV mission is scheduled to take place during 16-27 May; (2) Discussions are ongoing at EU-level on external representation of the Euro Area at the IMF; and (3) the 15 th General Review of Quotas (shareholding) and the Review of Quota Formula have commenced. European Investment Bank (EIB): (1) Annual meeting of Board of Governors, which Minister normally attends, takes place in Brussels on 25 May; (2) Ireland to nominate EIB Vice- President for 4 years with a view to taking up office from 1 August. World Bank: (1) the Development Finance Forum, bringing together public and private sector stakeholders with the aim of financing the development agenda in poorer countries, will take place in Dublin on 18-19May, 2016; (2) the IFC (International Finance Corporation) investment event for Irish businesses is planned to take place in Dublin in September, 2016; (3) Ongoing discussions on planned reforms to Bank governance and shareholding: the Forward Look and VOICE negotiations; and (4),the IDA (World Bank fund for providing assistance to poorest countries) 18 replenishment negotiations and pledging session conclude December, 2016 European Bank for Reconstruction and Development (EBRD): Department to appoint an advisor in our EBRD Constituency Office to start from 1 May. Asian Development Bank (ADB): ADF 12(concessional lending fund of Bank) replenishment negotiations and pledging session to conclude by Annual Meeting in early-May. Asian Infrastructure Investment Bank (AIIB): Ireland’s Membership application being progressed with primary legislation required during 2016. African Development Bank: Ireland’s membership of the AfDB is under consideration. Exploratory meetings are taking place in early 2016 and a recommendation will be made in the coming months. Climate Change: Negotiations (led by the Department of the Environment) on national greenhouse gas emissions reductions targets within the EU for 2030 are ongoing. Climate Finance: Ireland to commence contributions to the UNFCCC’s Green Climate Fund (GCF) in 2016 and prepare enabling legislation for membership and to provide a framework for future contributions. IMF & World Bank Meetings: the Spring Meetings, took place in Washington from 15-17 April. The Annual Meetings will take place in Washington from 7-9 October this year and are not normally attended by the Minister due to proximity to Budget Day. Page 155 of 184
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Minister’s Brief 2016 s Page 1 of
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3.2.1.1 Policies on Mortgage Arrear
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1. Introduction For the purposes of
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2.1 Economic and Fiscal Directorate
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2.2 Finance and Banking Directorate
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3. Detailed Briefing Page 11 of 184
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3.1.2 Economic Division Description
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Detail: Economic Outlook Pr
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3.1.2.2 Microeconomic analysis unde
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changes in the relevant tax base) a
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3.1.2.3 Economic coordination inclu
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3.1.2.4 Budgetary/fiscal policy, go
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Assessment of compliance with SGP o
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was a deviation from the fiscal rul
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tax, followed by personal income ta
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Tax Strategy Group - What Does It D
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Detail: Income Tax Policy Income Ta
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Credit in 2014 - that credit was of
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INCOME TAX INCENTIVES Agri-Taxation
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Marine taxation In Budget 2016, a r
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Detail: Indirect Tax Policy Tax Hea
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outcomes, then it was proportionate
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More fundamental threats to tobacco
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3.1.3.4 Finance Bill co-ordination,
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ise in both equity markets and prop
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Tax Head 2007 (€m) 2013 (€m) 20
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3.1.3.5 International taxations, co
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fully in line with the new OECD req
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3.1.5.1 EU Economic Governance issu
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At EU level, the Governance section
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3.1.5.2 EU-IMF Post Programme Monit
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2. EU Funding Mechanisms/ Programme
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Detail: The EU Strategy Unit manage
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3.1.5.4 International Relations Uni
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3.1.5.5 Permanent Representation of
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3.2 Finance and Banking Directorate
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3.2.1.1 Policies on Mortgage Arrear
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available is €1.8 million. Initia
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3.2.1.2 Policies on Central Bank po
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deemed necessary, it may be prefera
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Detail: Key Initiatives to achieve
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5. Majority of credit requests cont
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3.2.2 Financial Services Division D
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A further group is reviewing the re
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financing would be available to cov
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o Cumulative impact of financial le
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3.2.2.2 National and EU policy and
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Securities The draft EU Prospectus
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In addition a full view of the fina
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Page 105 and 106: 3.2.3 Shareholding Management Unit
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Page 112: sheet continues to contract, albeit
Page 118 and 119: 3.2.3.4 NAMA Specialist - Declan Re
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Page 127 and 128: 3.2.3.6 State’s shareholding in P
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Page 147 and 148: 3.2.4.1 Liaison with the Attorney G
Page 149 and 150: 3.2.4.2 Management of the Accountan
Page 151 and 152: Future Developments The vote accoun
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Page 157 and 158: with the delegation led by Second S
Page 159 and 160: assistance to the developing world.
Page 161 and 162: In addition to capital contribution
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Page 167 and 168: supported by OPW and a number of ex
Page 169 and 170: 3.3.2. Corporate Affairs Descriptio
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Page 173 and 174: ability of both electronic files an
Page 175 and 176: 3.3.3. Human Resources Division Des
Page 177 and 178: Detail: 1. Organisational Structure
Page 179 and 180: effectively to improve and deliver
Page 181 and 182: The Department is currently reviewi
Page 183 and 184: Erosion of income tax base did not
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Minister’s Brief

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