The International Monetary Fund approved a 22.5 billion euros loan for Ireland on Thursday and said it was open to re-negotiating parts of the bailout package with a new Irish government provided the overall targets were adhered to.

The fact that the IMF board approved this program, knowing that there is going to be an election in a few months, is a clear sign that the board believes that across the political spectrum there is a clear endorsement of the objectives, Ajay Chopra, deputy director of the IMF's European Department, told Ireland's national broadcaster.

Of course different governments might have somewhat different priorities in the areas of achieving fiscal and financial stability, these would need to be discussed and as long as the priorities are consistent with meeting the overarching objectives, there is always room for discussion.

(Reporting by Dublin bureau)