Oireachtas Joint and Select Committees

Thursday, 24 January 2013

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of Economy and Funding Requirements: Discussion with NTMA

2:35 pm

Mr. John Corrigan:

The Government has met all its milestones under the programme and, subject to the risks which the Deputy has acknowledged that I identified in my opening remarks, I do not see any reason that we should not exit the programme on schedule. However, to take the Deputy up on one particular point regarding support, it would not be unusual for a country exiting a programme to have credit lines available to it. One would expect not to use those credit lines but the fact that they are available would be a valuable addition to have and, provided the conditionality attaching to them is not too onerous, that should result in a lower cost of funding than would be the case if those credit lines were not available.

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