Business Irish

Saturday 24 February 2018

NTMA: Ireland has enough money to fund itself for more than a year

John Corrigan, CEO of the National Treasury Managment Agency
John Corrigan, CEO of the National Treasury Managment Agency
Colm Kelpie

Colm Kelpie

THE Government will have enough money to fund itself for more than a year, when the state is due to leave the bailout, the state's debt agency confirmed.

The National Treasury Management Agency (NTMA) said the money was gathered via two bond auctions raising €7.5bn earlier this year as well as funds from the bailout.

NTMA chief John Corrigan said there had been a strong vote of confidence in Ireland by the international money markets.

"Increased international investor confidence in Ireland has been reflected in the steep falls in Irish Government bond yields from their peak in the middle of 2011," Mr Corrigan said.m

"Ireland's continued success in meeting fiscal targets is a key domestic facto in this while, externally, a number of supportive developments at a European level have also had a very significant impact."

It comes as the troika of international lenders completes its penultimate review mission to Ireland to gauge if we are meeting our targets.

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