Tag Archives: Rainy Day Fund

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)

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