The National Treasury Management Agency (NTMA) has disclosed that, as of June’s end, it held €27 billion in cash and fluid assets. This will potentially lower its borrowing needs in approaching years.
Throughout the past year, the agency has gathered €5 billion via benchmark bonds which carried a 2.75 per cent weighted average market interest rate. Their official goal for this year is to accumulate anywhere between €6 to €10 billion.
As unveiled in its 2023 yearly report, the robust financial standing and positive fiscal forecast has resulted in only one bond auction being anticipated for the third quarter of 2024.
The organisation stated that among European countries, Ireland’s public debt maintains one of the lengthiest average maturities, currently standing at ten years. This extended average duration of medium and long-term debt portfolio signifies limited debt maturities in the imminent years, effectively diminishing re-financing risks.