asked the Minister for Finance the current schedule for repayment of foreign borrowing debt repayments for 1979, 1980, 1981 and 1982.
Ceisteanna—Questions. Oral Answers. - Foreign Debt Repayments.
19.
The repayments in respect of the Exchequer foreign debt outstanding on 30 September 1978, based on current exchange rates are:
|
1979, |
£124 |
million |
|
1980, |
£95 |
million |
|
1981, |
£111 |
million |
|
1982, |
£174 |
million. |
Would the Minister envisage that schedule being met say, next year and the year after?
It has to be met.
Is there any rough estimate of a percentage between what is internal and what is external?
It is all in respect of foreign debt. It is very likely that in dealing with it we will reschedule it. We have been engaged in some rescheduling of debt and this has resulted in reducing our repayment by more than £50 million in 1979. It will be reduced by about £45 million in 1980 and by almost £80 million in 1981. If there are favourable opportunities available in connection with the rescheduling of those debts I have mentioned I will take advantage of that to continue this kind of rescheduling operation.
How has the strengthening of sterling affected the schedule?
It depends on what currency the debt is.