NTMA: Ireland's financing needs largely in place already for next 12 months

NTMA: Ireland's financing needs largely in place already for next 12 months

The National Treasury Management Agency has said it will monitor the bond markets in the coming days and weeks in the wake of the Brexit vote.

It moved to calm fears, saying that Ireland's funding position remains strong.

The NTMA said the fact that our financing needs are limited for the remainder of this year and into the first six months of 2017, saying that is a positive situation to be in, given the decision by voters in the UK.

The NTMA said it had already funded the majority of its requirement for 2016, raising some €6bn of its full-year target of €6bn-10bn. The NTMA will announce its funding plans for Q3, as scheduled, on 1 July.

The NTMA also highlighted that the State’s cash balances exceeded €10bn at the end of May, and that the next bond redemption does not occur until October of next year.

More on this topic

Letters to the editor: Celebrating a Brexit deal that will only deliver more hardshipLetters to the editor: Celebrating a Brexit deal that will only deliver more hardship

Jim Power: Britain's renewed Brexit hardline should concern us allJim Power: Britain's renewed Brexit hardline should concern us all

Businesses warn over British points-based work permit planBusinesses warn over British points-based work permit plan

Businesses issue warning on UK work permit planBusinesses issue warning on UK work permit plan