Michael McGrath (Cork South Central, Fianna Fail)
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145. To ask the Minister for Finance the average maturity of the remaining EU and IMF loans under Ireland’s programme of assistance; and if he will make a statement on the matter. [32496/14]

Michael Noonan (Limerick City, Fine Gael)
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The National Treasury Management Agency (NTMA) have advised that, following the final EU/IMF Programme disbursement of €0.8 billion from the European Financial Stabilisation Mechanism (EFSM) in March 2014, the estimated weighted average maturity of the EU/IMF Programme loans was 12.7 years at end-March 2014.   

This estimated weighted average maturity reflects the maturity extensions to loans from the European Financial Stability Facility (EFSF) agreed in June 2013. Following the maturity extension agreement, the first of the EFSF loans will mature in 2029.

While maturity extensions to loans from the EFSM were also agreed in 2013, the revised maturity dates will only be determined as they approach their original maturity dates. It is not expected that Ireland will have to refinance any of its EFSM loans before 2027. As the details are not yet finalised however, it is necessary to make certain assumptions regarding the extension commitment in relation to EFSM loans in order to calculate the estimated weighted average maturity.