andMr. Cott asked the Minister for Finance if he will state this country's present position in respect of foreign borrowing.
20.
Ceisteanna — Questions. Oral Answers. - Foreign Borrowing.
19.
andMr. Cott asked the Minister for Finance the original and present position and conditions in respect of this country's national indebtedness in respect of Marshall Aid, the Bank of Nova Scotia, Sterling-Deutschemark Loan, 7½ per cent Sterling Loan, Deutschemark Loan and stand by; and other types of foreign borrowing.
I propose, with your permission, a Cheann Comhairle, to take Questions Nos. 19 and 20 together. As the reply is in the form of a tabular statement, I propose to circulate it with the Official Report.
Following is the statement:
The following is the present position regarding external borrowing by the State. There has not been any change in the conditions since the loans were negotiated.
|
Title of Foreign Borrowing |
Original Amount Borrowed |
Present Amount Outstanding |
Rate of Interest |
Conditions |
|
000 |
000 |
|||
|
1. 2½% Dollar Loan from US under Marshall Aid Programme |
$128,200 |
$95,471 |
2½% |
Repayable in semi-annual instalments on 30th June and 31st December in years 1956 to 1983 inclusive. |
|
2. Bank of Nova Scotia Loan (i) |
£5,000 |
£3,000 |
7% |
Repayable by annual instalment of £500,000 on 15th June of each year 1967 to 1976 inclusive. |
|
Bank of Nova Scotia Loan (ii) |
£5,000 |
£4,500 |
8?% |
Repayable by annual instalment of £500,000 on 28th March of each year 1970 to 1979 inclusive. |
|
3. 7% Sterling/Deutsche Mark Bonds 1981 |
£7,000 |
£6,418 |
7% |
Repayable at par in sterling or in deutsche-marks at the option of the bearer in eleven equal instalments of £582,000 on 1st March in each year 1970 to 1980 inclusive and one final instalment of £598,000 in 1981. |
|
4. Ireland 7½% Stock 1981-83 |
£5,000 |
£5,000 |
7½% |
Redeemable at par in 1983 or in whole or in part from 10th July 1981 onwards. |
|
5. 7¼% Deutsche Mark Bearer Bonds 1969-84 |
DM 100,000 |
DM 100,000 |
7¼% |
Repayable at par in ten equal annual instalments of DM 10 million on 1st September of each of years 1975 to 1984 inclusive. |
|
6. Ireland 9% Dollar Bonds 1985 |
$15,000 |
$15,000 |
9% |
Repayable at par in 14 equal annual instalments of $900,000 on 1st March of each year 1971 to 1984 inclusive and one final instalment of $2,400,000 on 1st March, 1985. |
|
7. 8½% Deutsche Mark Bonds 1970-85 |
DM 100,000 |
DM 100,000 |
8½% |
Repayable in ten equal instalments of DM 10 million payable on 1st September of each year 1976 to 1985 inclusive. |
A standby credit of $30m. was negotiated in July, 1970, but no drawing has been made to date.