andMr. P. Barry asked the Minister for Finance the present amount and composition by currency of the national debt; and the dates and amounts of each repayment to be made in the next 20 years.
Written Answers. - National Debt.
339.
The following is the reply:
|
As at 31 December 1977 (Provisional) |
|
|
£m |
|
|
Total National Debt |
4,210 |
|
of which amounts denominated in |
|
|
Irish pounds |
3,160 |
|
United States dollars |
575 |
|
Deutschemarks |
180 |
|
Swiss francs |
104 |
|
Dutch florins |
36 |
|
Pounds sterling |
35 |
|
Japanese yen |
34 |
|
European units of account |
34 |
|
United Arab Emirates dirhams |
21 |
|
Belgian / Luxembourg francs |
17 |
|
Kuwaiti Dinars |
14 |
NOTE: Debt denominated in foreign currencies have been converted to Irish pounds at the exchange rates of 31 December, 1977.
Estimated repayments of the National Debt as at 31 December 1977 for the years 1978 to 1997 inclusive are as follows:—
|
Year |
Domestic |
Foreign |
Total |
|
1978 |
519* |
53 |
572 |
|
1979 |
494 |
184 |
678 |
|
1980 |
320 |
143 |
463 |
|
1981 |
145 |
172 |
317 |
|
1982 |
92 |
178 |
270 |
|
1983 |
— |
111 |
111 |
|
1984 |
24 |
70 |
94 |
|
1985 |
42 |
20 |
62 |
|
1986 |
29 |
17 |
46 |
|
1987 |
21 |
16 |
37 |
|
1988 |
25 |
14 |
39 |
|
1989 |
72 |
20 |
92 |
|
1990 |
81 |
6 |
87 |
|
1991 |
44 |
6 |
50 |
|
1992 |
46 |
5 |
51 |
|
1993 |
81 |
4 |
85 |
|
1994 |
52 |
2 |
54 |
|
1995 |
— |
3 |
3 |
|
1996 |
101 |
23 |
124 |
|
1997 |
123 |
3 |
126 |
NOTE: Repayments of debt denominated in foreign currencies are converted to Irish pounds at the exchange rates of 31 December, 1977.
* Includes all amounts currently payable on demand from the Exchequer.
340.
andMr. P. Barry asked the Minister for Finance the basis for which the provision for debt service and other central fund charges is set at £450 million for 1978 in the 1978 Estimates as against £361.3 million in 1977; if this figure takes account of additional borrowings consequent on the provisions of the 1978 Budget; and the composition and timing of payments under this heading during the year.
The estimate for debt service costs is based on the assumption of a continuation of interest and exchange rates as they stood at the time of the budget, on the amount of debt outstanding at that time and on the expected cost, in 1978, of borrowing to be undertaken this year. The other major item, namely, the contribution to the EEC budget, is based on the size of that budget but subject to the limitations laid down in Article 131 of the Treaty of Accession.
Because arrangements for new Government borrowing and refinancing of existing debt are decided on during the course of the year, it is not possible to give details of the timing and composition of payments under this heading in advance.