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Dáil Éireann debate -
Wednesday, 27 Apr 1983

Vol. 341 No. 10

Written Answers . - External Loans .

74.

asked the Minister for Finance the total value in Irish punts of loans taken up by semi-State bodies, building societies and other institutions which enjoyed a State guarantee against exchange laws immediately prior to the recent devaluation of the Irish punt within the European Monetary System; and the cost to the State resulting from exchange losses arising from the devaluation.

: The total value in Irish pounds immediately prior to the EMS realignment of outstanding foreign loans undertaken by semi-State bodies, building societies and other financial institutions which the State had guaranteed against exchange risk loss was £469.2 million.

The increase in the Irish pound value of these loans arising from the realignment was £19.9 million. Any losses attributable to exchange rate variations will be realised only as repayments are made by the bodies concerned over the coming years.

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