State Debt

Dáil Éireann Debate, Tuesday - 23 October 2012

Tuesday, 23 October 2012

Questions (175)

Pearse Doherty

Question:

175. Deputy Pearse Doherty asked the Minister for Finance if he will provide an assessment of the savings that the State could make if it were to substitute the remaining programme funding yet to be provided by the International Monetary Fund with open market funding from the issuance of debt by the National Treasury Management Agency at current market rates. [46131/12]

Written answers

Minister for Finance

The National Treasury Management Agency (NTMA) and my Department keep all aspects of the international markets under review. I am advised by the NTMA that, at current market rates, there would be no savings to the State by the substitution of open market funding raised by them (the NTMA) versus debt raised through the International Monetary Fund, done on a like-for-like basis.