LONDON (MNI) – Ireland’s gross funding need for next year is
estimated to be E23.5 billion compared to E20.5 billion in 2010,
the National Treasury Management Agency (NTMA) says.
In an investor presentation on its website, the debt agency
estimated its borrowing plans for the next four years and estimated the
gross funding need to decline in subsequent years to E20.7 billion in
2012, E18.9 billion in 2013 and E18.6 billion in 2014.
For 2011, the NTMA estimates an Exchequer deficit of E16.0 billion,
with debt redemption of E4.4 billion and Bank’s promissory Notes of E3.1
billion, resulting in a gross funding need of E23.5 billion.
Ireland was decided to exit the bond market in October, having
already completed its 2010 issuance programme, after a sharp widening in
Irish spreads to fresh record highs.
Ireland has sold E22.05 billion worth of bonds this year compared
to its gross funding need of E20.5 billion.
–London newsroom: 00 44 20 7862 7494; email: nshamim@marketnews.com
[TOPICS: MNXAU$,M$X$$$,MFXBO$,MGX$$$,M$$FI$]
