The National Treasury Management Agency plans to raise € 20 billion for 2010
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The National Treasury Management Agency plans to raise € 20 billion for 2010
The National Treasury Management Agency, the organisation which borrows money on behalf of the state, plans to raise € 20 billion in the bond market this year.
Throughout 2009 the National Treasury Management Agency has used a combination of auctions, syndicated sales and retail debt sales, to raise the funds to cover the gaping hole that has appeared in Government finances over the previous year.
In its review of the fiscal year of 2009, the new chief executive Jophn Corrigan stated that Ireland faced significant challenges which Ireland faced in international markets in 2009 were exceptional in terms of funding requirements, investor sentiment and competition for available funds and market volatility
He also commented that the National Treasury Management Agency raised a total of € 35.4 billion in long-term funding. This money was used by the Exchequer deficit of € 24.6 billion and to repay a € 5 billion bond which was maturing
Karl Foley
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John McCarrick and Associates
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Telephone:01 4960102
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Email: info@jmccarrick.com
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