Dáil Éireann debate -
Thursday, 11 Feb 1993

Vol. 425 No. 8

Written Answers. - External Reserves.

Pat Rabbitte

Question:

61 Mr. Rabbitte asked the Minister for Finance if he will give figures for the sum of the foreign financial assets which includes, as well as foreign reserves and foreign borrowing, positions in foreign exchange swaps, positions with the European Monetary Co-operation Fund, and positions in any other derivative financial instrument of central Government excluding semi-State bodies, the National Treasury Management Agency and the Central Bank of Ireland, and also for the sum of the foreign financial liabilities of these bodies at 31 May 1992 and at 30 January 1993.

Minister for Finance (Mr. B. Ahern)

The following table gives the figures for the Central Bank's official external reserves at end-May 1992 and end-December 1992, the last date for which published figures are available, as well as the Central Bank's liabilities to other Central Banks through the European Monetary Co-operation Fund (EMCF) There are no published figures available in respect of any foreign exchange swaps outstanding at the relevant dates.

	£ millions
	end-May '92	end-Dec '92
External reserves	3,834	2,113
Liabilities to EMCF	—	716
External reserves net of EMCF liabilities	3,834	1,397

The following are the figures for foreign financial assets and liabilities, taking account of financial derivatives, in the name of Ireland acting through the National Treasury Management Agency at 31 May 1992 and 30 January 1993:—

	£ millions
	31 May '92	30 Jan '93
Foreign financial liabilities	9,145	12,252
Foreign financial assets	188	319
Net foreign financial liabilities	8,957	11,933