The IMF says Ireland could have saved billions of euro if it had been allowed to burn the bondholders at some of its banks.
It says there would have been "significant" benefits for the Irish public if senior bondholders in Anglo Irish Bank and Irish Nationwide had been burned.
The government has previously said it wanted to burn senior bank bondholders - but the plan was blocked by the ECB.
The IMF's Craig Beaumont says burning bondholders at the other surviving banks could have been more risky:
