After some early progress in rooting out corruption and encouraging donor support, the KIBAKI government was rocked by high-level graft scandals in 2005 and 2006. In 2006, the World Bank and IMF delayed loans pending action by the federal government on corruption. Macau''s traditional manufacturing industry has slowed enormously for the reason that termination of the Multi-Fiber Agreement in 2005. China is Macau''s second largest goods export market, behind Hong Kong, and adopted by the United States. Triggered by the collapse of the second largest bank, GDP plunged 18% in 2009. The financial system has not returned to pre-crisis ranges regardless of robust growth, particularly within the export sector in 2011-12. The IMF, EU, and different worldwide donors provided substantial monetary assistance to Latvia as a part of an agreement to defend the currency''s peg to the euro in change for the federal government''s commitment to stringent austerity measures. The Isle of Man enjoys free entry to EU markets. Jordan''s monetary sector has been comparatively remoted from the international monetary disaster due to its restricted exposure to overseas capital markets. Ireland was among the many initial group of 12 EU nations that began circulating the euro on 1 January 2002. GDP progress averaged 6% in 1995-2007, however economic exercise has dropped sharply for the reason that onset of the world financial disaster, with GDP falling by over 3% in 2008, almost 7% in 2009, and less than 1% in 2010. Ireland entered into a recession in 2008 for the first time in more than a decade, with the following collapse of its home property and construction markets.
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