asked the Minister for Finance the total interest paid on the national debt in the year ended 31 December 1987; the amount of that interest paid to (a) Irish banks and lending institutions and (b) foreign banks and lending institutions; the average rate of interest paid to (i) Irish banks and Irish financial institutions and (ii) the average rate of interest paid to foreign banks and foreign financial institutions.
Written Answers. - National Debt.
59.
The total interest paid on the national debt from Central Fund Services in 1987 was £1,935 million.
The bulk of the foreign currency denominated loans are issued in bearer form and a breakdown of the investors currently holding them, as between banks and lending institutions and other investors, is not available. However the total interest paid from Central Fund Services on Irish pound denominated debt in 1987 was £1,213 million and the total interest payments on foreign currency denominated debt in the same period was £722 million. These interest payment figures represent an average rate of interest on Irish pound denominated debt of 8¾ per cent and on the foreign currency denominated debt of 7½ per cent.