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Irish debt agency says well placed to fund coronavirus spending

Reuters - UK Focus
·1-min read

DUBLIN, March 25 (Reuters) - Ireland is well placed to address any borrowing challenges created by the coronavirus epidemic, the head of Ireland's debt agency said on Wednesday, citing strong cash balances, investor appetite and European Central Bank measures.

"The strong progress Ireland has made improving its debt profile over the past five years leaves us well placed to address any borrowing challenges posed by the economic fallout of Covid-19," National Treasury Management Agency (NTMA) Chief Executive Conor O'Kelly said in a statement.

At the end of February the NTMA had 26 billion euros to fund this year's 19 billion euros of redemptions and there are no bond redemptions in 2021, he said, adding that overall redemptions from 2021 to 2024 total 27 billion euros. (Reporting by Conor Humphries; Editing by Andrew Heavens)