Public expenditure minister Brendan Howlin said the deal to defer a €3.1 billion promissory note repayment meant that Ireland had taken a further step toward being "a good place to invest".
He said the deferral improved the cash flow of the state this year since it pushed out repayment to 2025.
Ireland needed to be in a position when it was demonstrably able to handle repayments, he told RTE's Morning Ireland programme.
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