The International Monetary Fund on Friday said it approved a $2.11 billion disbursement to help debt-stricken Ireland as part of a broader bailout package.

The lender said the Irish government has "maintained resolute implementation" of an austerity program aimed at getting its budget and banking crisis under control and urged it to continue to do so to avoid the risk of contagion.
So far, the IMF has disbursed $12.39 billion to Ireland under a bailout package also supported by the European Union through its European Financial Stability Facility and by bilateral loans from Britain, Sweden and Denmark.

The total bailout package for Ireland from all participants amounts to 85 billion euros or about $123 billion.

-Reuters