Delay Anglo payment: experts

The Government should delay making further scheduled bailout payments to the former Anglo Irish Bank for as long as possible, a number of leading economists said yesterday.

Just over €28bn in outstanding aid is to be pumped into the Irish Bank Resolution Corporation (IBRC) over the next 20 years through the execution of promissory note payments; aimed at the state covering the outstanding Central Bank debt that the failed bank owes in backdated “exceptional liquidity assistance” loans.

The first €3.1bn tranche was paid out to the IBRC last March and another €3.1bn payment is due to be paid at the end of next month.