NTMA repays outstanding loan from IMF early

The National Treasury Management Agency (NTMA) has today completed the early repayment in full of Ireland’s outstanding loans from the IMF, writes Denise O’Donoghue.

The bilateral loans from Denmark and Sweden were repaid in full yesterday. In total some €5.5 billion was repaid early.

The repayment discharges all of the remaining IMF principal loan obligations that were originally to fall due from January 2021 to December 2023, as does the repayment of bilateral loans from Sweden and Denmark.

The Minister for Finance and Public Expenditure and Reform, Paschal Donohoe, TD welcomed the early repayments.

"These early repayments mark a further significant milestone for Ireland in its continued robust economic recovery," he said.

"They will also generate interest savings estimated to be of the order of €150m over the remaining life of the loans. This will further improve Ireland’s debt sustainability.

"Ireland greatly appreciates the support provided by the IMF, Denmark and Sweden, at a time of great uncertainty. We will never forget the solidarity shown to Ireland.

"We also appreciate the cooperation of the remaining Programme lenders in facilitating these early repayments.

"As Ireland continues to recover we will keep making decisions that are in the best interests of our country, our future prosperity and, most importantly, our people."

- Digital Desk


KEYWORDS: NTMA, IMF

 

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