The new States director international finance, Joe Moynihan, confirmed that the Council of Ministers had agreed to follow all of the recommendations contained in the McKinsey review that was published at the end of April.

‘The intention is to implement the recommendations in full and to resist the temptation to fudge on elements or the “too difficult” items,’ he said.

However, he said that because of the commercially sensitive nature of much of the McKinsey work, the approach to be adopted would not be publicly unveiled..

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