The taoiseach, Enda Kenny, has confirmed that Ireland will exit the EU-IMF bailout programme without needing a precautionary credit line from its international partners.
Kenny told the Daíl, the Republic's parliament, on Thursday that now was the right time, adding that the Irish finance minister, Michael Noonan, was travelling to Brussels to relay Dublin's decision to the EU.
In an upbeat assessment of the Irish economy, Kenny said: "We will exit the bailout in a strong position. This government has been preparing for a return to normal market funding in 2014 for three years and the NTMA [National Treasury Management Agency] has built up a cash reserve of more than €20bn.
"Growth has returned as our economy regains its competitiveness. Exports have grown to all-time highs, and our balance of payments is in a strong surplus."