The Organisation for Economic Co-operation and Development says Ireland is "back on its feet" and in growth mode.
The OECD says the "worst is now over" and most of the heavy lifting to put the country's debt on a downward path will soon be behind us.
It says the country is on the verge of becoming the first bailed out European nation to successfully exit its financial rescue programme.
And the OECD, In its latest two year review of the Irish economy, says all the domestic economic indicators point towards a recovery.
However the international economic watchdog is warning that the "road ahead is challenging", with more needed to reinvigorate the economy.
It says that while job creation is picking up, "long term and youth unemployment remain unacceptably high."
And its also says more needs to be done to support small Irish businesses.
Dr Angel Gurria (pictured above at Government Buildings in Dublin) is the Secretary General of the OECD:
