Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

I am quite sanguine about the NTMA's policy. I have discussed the situation with the NTMA quite frequently. One of the strategies of the NTMA is to smooth the profile of debt repayments so that the peaks are reduced and as a consequences the values are increased, if one thinks about it in graph terms. It is doing that very successfully and has managed that very well over recent years.

Our national debt is still very high. Clearly the size of the debt is a matter of concern but I am assured that the NTMA does not expect any difficulty whatsoever in refinancing the debt that becomes due in the three years the Deputy has inquired about, and it also expects to do it at much lower interest rates, or at a lower coupon, to use the term that they use.

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