NTMA chief says progress made

Wed, Sep 12, 2012, 01:00

Ireland has made significant progress towards achieving sustainable market re-entry, the chief executive of the National Treasury Management Agency (NTMA) said today.

Speaking at an event in Dublin, John Corrigan said Ireland continues to face challenges but that international investors are encouraged by positive signs emerging from the Irish economy.

“The NTMA’s objective is to achieve sustainable bond market re-entry over the coming months and through 2013,” said Mr Corrigan.

“We have taken a number of successful steps to achieve this re-entry on a phased basis, including a long-term bond switch in January, the sale of Treasury Bills and long-term bonds in July and the first-ever sale of Irish Amortising Bonds in August.”

Mr Corrigan said the NTMA’s successful bond funding this year was achieved because investors are comfortable with the Government’s adherence to its Troika commitments.

The National Treasury Management Agency yesterday said it plans to sell €500 million of three-month treasury bills on September 13.

The NTMA sold €500 million of three-month bills at a yield of 1.80 per cent on July 5.