Oireachtas Joint and Select Committees

Thursday, 4 July 2019

Public Accounts Committee

2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018

9:00 am

Mr. Conor O'Kelly:

That is a live question for today. Whiskey was added to the list of tariffs that I saw overnight. We are included in tariffs which will potentially be imposed on Europe by the US. That is a risk and we will have to look at any other exposure that we might have. If there were to be issues with the China-Ireland fund, they are small venture capital companies and the amount of money involved is probably relatively low. Our exposure is €50 million in that fund along with China. It is a very early stage venture capital fund. It is not substantial exposure compared to the €9.1 billion of the ISIF. That is probably why it is not appearing at the top of our risk register. The Deputy is right that it is an escalating risk and we will have to look at it across the portfolio.

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