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. Seamus McCarthy:
It is counter-intuitive. I think it turns on discount rates and how one values moneys one would receive in the future and how one values them now. Or, if one has to spend money in the future, how much would one have to pay now to avoid having to pay that in the future? So I think that is the principle on which this operates.
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