Tag Archives: NTMA

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%.

NTMA chief says Rainy Day Fund is empty (RTÉ)

RollingNews

The general Government debt is to be written down by 2.3 per cent, or €3.6 billion, following the detection of an accounting error.

The Department of Finance said the National Treasury Management Agency (NTMA) had notified it of a double count brought about a change in its relationship with the Housing Finance Authority.

Eyes flick to calendar. Not April 1st. Tentative smirk.

State gains €3.6bn from ‘error’ (Irish Times)

pic (Hat tip: Sean Tully)