Chief Executive of the National Treasury Management Agency Conor O’Kelly
This afternoon/
Public Accounts Committee hearing.
The Chief Executive of the National Treasury Management Agency Conor O’Kelly said that the Rainy Day Fund stood at €1.5 billion at its peak.
Via RTÉ:
However, all of the money was used during the Covid-19 pandemic.
“There is no funds in the Rainy Day Fund as we speak,” Mr O’Kelly told the PAC today.
Mr O’Kelly also said the NTMA oversaw loans to Aer Lingus of €150m during the pandemic, and is in talks with the airline to see if it needs more assistance.
The NTMA also loaned the the Dublin and Cork airports operator Daa €40m, he added.
Mr O’Kelly told the committee that Ireland borrowed just under €36 billion since the start of the pandemic at an average interest rate of 0.16%.