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Tue 01 Jan 2009State move to borrow billions will test standing of economy
THE GOVERNMENT has begun the process of borrowing billions from world bond markets to finance the running of the State as it confirmed yesterday that it recorded the largest deficit to date in public finances in 2008.
The National Treasury Management Agency (NTMA) is seeking to raise €3 billion from the sale of Government bonds ahead of a likely rush for loans from other beleaguered economies in the global bond markets.
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