Oireachtas Joint and Select Committees

Thursday, 6 July 2017

Public Accounts Committee

2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015

9:00 am

Photo of Seán FlemingSeán Fleming (Laois, Fianna Fail) | Oireachtas source

There is an average of five years left on the IMF, whereas on the European money, there is an average of 18 years left. The UK, Sweden and Denmark loans are also about five years. There are mixed views on this. Some would say that having the troika keeping an eye over our shoulder is a good thing for the Department of Finance, given what happened. Perhaps it is no harm that it is still under its surveillance but the other view is that if they were paid off, the Department would not be under its direct surveillance. Can the Department give us a note on the pros and cons? Is it good for Ireland to be under the surveillance of the troika or not? As the Secretary General of the Department of Finance, would Mr. Moran prefer to have the IMF having direct surveillance over his Department or would he prefer if were an ordinary member of the IMF, where it makes an annual visit as it does elsewhere?

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