The IMF is back in town.

An international Monetary Fund conference in Dublin today will focus on the lessons learned from the banking crisis here. Managing Director of the IMF Christine Lagarde will speak at the event in Dublin Castle.

Politicians, economists, and banking experts will also participate in panel discussions on economic issues in Ireland and the EU.

Today, the Taoiseach welcomed Ms Lagarde to Government Buildings where she signed the guest register. The Taoiseach remarked that Ms Lagarde's signature was "a work of art".

Earlier, the Public Expenditure Minister has told a Troika conference in Dublin that the people of Ireland have "lost sight of the depth" of the economic crisis.

Brendan Howlin this morning opened discussions at Dublin Castle with the International Monetary Fund (IMF) chief Christine Lagarde and Finance Minister Michael Noonan due to take part later this afternoon.

Mr Howlin said Ireland is moving towards a sustainable recovery and will have some budget room for spending to meet "demographic pressures" and some government priorities.

But he suggested the public underestimated the scale of the financial catastrophe.

Economist from University College Dublin, Colm McCarthy, is due to take part in a discussion later about EU policies.

He says low interest rates from the European Central Bank (ECB) have given Ireland the opportunity to borrow from the markets a low cost.

Gary O’Callaghan, an official in the IMF for 16 years, spoke to Newstalk Breakfast this morning about the conference and why the event is happening here.