Desmond J. O'Malley
Question:50 Mr. O'Malley asked the Minister for Finance the financial implications of increased debt servicing costs for the Exchequer consequent on devaluation.
Written Answers. - Debt Servicing Costs.
It is estimated that the devaluation of the Irish pound will add £52 million to the cost of servicing foreign currency debt in 1993 and about £60 million in a full year. It is not possible to estimate what the impact of devaluation, as opposed to a successful defence of the currency, would be on the cost of servicing domestic debt.