asked the Minister for Finance the amount of moneys that have been borrowed abroad by the Government since 1st April, 1973; the amount of interest and the terms of each loan; and if it is intended to borrow any further amounts.
Ceisteanna—Questions. Oral Answers. - Government Borrowing.
106.
As the reply is in the form of a tabular statement, I propose, with the permission of the Ceann Comhairle, to circulate it with the Official Report. Following is the statement:
External Government borrowing since 1st April, 1973
|
Title |
Interest Rate |
Amount (£ million) |
|
Swiss Franc Private Placement |
6½% |
20.0 |
|
European Investment Bank (telephones) |
8½% |
7.5 |
|
World Bank (education) |
7¼% |
3.0 |
|
Dutch Guilder Bank Loan |
9% |
15.5 |
|
Belgian France Private Placement |
9½% |
10.2 |
|
European Unit of Account Issue |
9¾% |
10.0 |
|
Dollar revolving credit |
109/16 to 145/16% |
74.6 |
|
Kuwaiti Dinar Issue |
9% |
7.2 |
|
E I B (Telephones) |
10½% |
9.5 |
|
United Arab Emirate Dirham Loan |
9% |
16.2 |
|
Other external borrowings |
13.3 |
|
|
Total external borrowings since 1st April, 1973 |
£187.0 |
The proceeds of a Dutch guilder note issue at a rate of 10¼ per cent amounting to about £8.3 million is due to be received on 16th December, 1974. Further, foreign borrowing will be undertaken to finance the public capital programme in the coming year. The amount of such borrowings will be determined in the context of the economic policy most advantageous to this country, the availability of domestic resources, market conditions and the size of the public capital programme.