Oireachtas Joint and Select Committees
Thursday, 5 May 2022
Public Accounts Committee
2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Finance
2020 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2020
Chapter 16 - Ireland Apple Escrow Fund
Audited Financial Statements of the Exchequer for 2020
9:30 am
Brian Stanley (Laois-Offaly, Sinn Fein) | Oireachtas source
I will refer to the national debt for one moment. The cost of servicing this debt has gone down by almost €3 billion in the past five to six years because of the refinancing which we are aware has been carried out on it. This is to be welcomed.
The cost of servicing the debt in 2020 was €4.67 billion. Efforts are made to refinance some of those loans when opportunities arise. Are there still opportunities to refinance some of the loans? Mr. McCarthy mentioned that the rate of borrowing is 0.7% interest. Do we currently have loans on the national debt that were borrowed at a higher rate that could be refinanced?
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