Pearse Doherty (Donegal South West, Sinn Fein)
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Question 227: To ask the Minister for Finance the projected interest rates used in his Department's April 2012 Stability Programme Update for new debt issued by the State in each of the years 2013, 2014 and 2015. [27957/12]

Michael Noonan (Limerick City, Fine Gael)
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Having consulted with the National Treasury Management Agency (NTMA), I am of the view that it would be unwise to outline the interest rate assumptions underpinning new debt issuance over the period 2013 – 2015 as this would compromise the State's ability to access funds at the most competitive rate possible. As the Deputy is aware, the majority of the State's financing needs to the end of 2013 will be met through the funding provided under the EU/IMF programme of assistance. However, the NTMA is planning to return to the markets before the end of the term of the programme once conditions have become more receptive.

The NTMA is in constant contact with market participants and will advise me when it feels that the time is right to re-enter the markets. The NTMA will also advise me in relation to the interest rates that it feels are appropriate.