Supporting Ukrainian refugees may require extra borrowing

Paschal Donohoe: 'It will be a lot later in the year until we're really clear on what are the economic consequences of hosting those who will be coming to our country looking for refuge.'

The financial implications of taking in Ukrainian refugees will not be known until later in the year, the finance minister has said.

Paschal Donohoe, speaking to the Irish Examiner in London, said that he was open to using the €3bn remaining in a Covid contingency fund for the housing and welcoming of refugees but said that it was not clear if additional borrowing would be needed.