Ireland ready to leave bailout programme, NTMA head says

Ireland ready to leave bailout programme, NTMA head says

The head of the National Treasury Management Agency says Ireland now has enough money to return to the bond markets.

Under the terms of the bailout, the Troika requires us to have one year's cash in place before exiting the programme.

Speaking at the launch of the NTMA's annual report, Chief Executive John Corrigan said that is now the case.

However, he said we may have to avail of a standard "precautionary" programme once we exit the bailout.

"In the event that … we couldn't access the markets, we could tap into that [programme]," he said.

"But it is literally a backstop, and the intention would not be to draw on it."

He said agreeing the terms of any such programme were likely to be the focus of the next Troika visit in October.


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