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Figures supplied today by the National Treasury Management Agency (NTMA) show that Ireland has drawn down €22.36bn from the IMF/EU bailout agreed last November 2010. The figures show that the blended average rate of interest charged is 5.58% and that the funds are due for repayment between 5-10 years with a weighted average of 6.83 years. The figures also reveal that the longest maturity debt, borrowed from the EFSM in May 2011 is 10 years and that carries the highest rate of interest of 6.48% including “costs and credit enhancements”. Figures from the Central Bank of Ireland yesterday showed that the Government has over €21bn on deposit in Irish banks, most presumably being held in advance of the July recapitalisation of the banks.
the interest rate isn’t so much scandalous as it is stupid — it’s in german’s interest that ireland manage to pull through its difficulties; they don’t seem to get it
this means that the only way for ireland to pay a decent interest rate again is for her to return to the market; everytime you rip off a new group of bondholders by acting arbitrarily, fraudulently, and unlawfully you put that date further away; until you realize that the only way to get cheap financing is to play nice and treat your creditors well (so that they are willing to continue to lend to you), you will be left dependent on your german paymasters
Was this published online or did you recieve a copy?
(can’t find it on their page)
Surprised only Pearse Doherty mentioned it over the weekend (no one seemed to notice when it was included in the EC and IMF quarterly reports on Ireland.
@Rob, I received a copy. This is the second time this table has been published on here. The April version was also published.
Yeah I made my own from the EC/IMF reports.
Well, if its something they charge for then fair enough.
BY the way, alot of those figures don’t seem to tally exactly with what the IMF/EC reports said.
Obivously the NTMA knows how much it is being charged and how much it recieved but there are some discrepencies (even if we arrive at the same total)
@Rob, the figures above come directly from the NTMA and I know that they tally with a Dail response on 15th June 2011 also. Can you provide a specific example of a discrepancy?