Wednesday, 8 May 2013

Questions (72)

Pearse Doherty

Question:

72. Deputy Pearse Doherty asked the Minister for Finance further to the publication of the 2012 unaudited accounts for the National Asset Management Agency, if he will provide his assessment of the performance of NAMA in 2012; and if he has concluded this assessment following consultation with the NAMA advisory board. [21645/13]

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Written answers (Question to Finance)

The unaudited accounts published by the NAMA highlight the progress that NAMA is making in delivering on its business plan. NAMA has maintained a strong cash position generating over €10 billion in cash. The agency has repaid €4.75 billion in NAMA bonds and I am advised it will meet its target to redeem €7.5 billion to end 2013. In addition, NAMA is playing a key role in supporting employment in the property and construction industry and is continuing to work with a wide range of public bodies including Government Departments, Local Authorities and State Agencies.

The publication of the 2012 unaudited accounts was not raised in my last discussions with the NAMA advisory group.