Sinn Féin is claiming the government is about to embark on home repossessions "with vigour" and not as a last resort as the coalition had been saying.

It comes after a review by the International Monetary Fund (IMF) of the bailout noted the need to keep the issue of mortgage arrears and resolution under review.

The IMF also warned that despite the promissory note deal the coalition cannot back away from any budget cuts or taxes.

Noting "inadequate progress" on resolving mortgage arrears it says this issue is central and it goes on to welcome the coalition's new mortgage resolution process announced last month.

'Budget 2013 remains critical'

The IMF said full implementation of Budget 2013 remains critical and any savings from the promissory note deal should only be examined for Budget 2014.

But in a warning shot to the European Central Bank (ECB) and European Commission it says the durability of Ireland's exit from the programme hinges on a timely delivery of the ESM direct bank recapitalisation.

It says the "ESM direct bank recapitalisation instrument that is under development could play an invaluable role" to enhance the sustainability of the programme.

Aengus O'Snodaigh of Sinn Féin says this report that can only mean one thing.