98% of Irish households have no problems with debt

The overwhelming majority of Irish households can manage their debts without significant concern, according to a study by the ESRI and IIB Bank.

The two organisations say 98% of households do not have problems managing their debts.

They also say the vast bulk of borrowers are coping well with the impact of higher interest rates, mainly due to increases in after-tax incomes and a sharp rise in mortgage-interest relief.