Dáil Éireann - Volume 345 - 02 November, 1983

Written Answers. - Government Debt Repayments.

347. Mr. S. Brennan asked the Minister for Finance the extent to which the changing value of the US dollar and the Deutschemark will involve the Government in extra debt repayments for 1983; the effect this will have on total Government expenditure; and how the Government propose to provide for it.

Minister for Finance (Mr. Dukes): The Irish pound value of repayments of principal on Government foreign debt during 1983 will be increased by about £25 million as a result of the changes in the exchange rate of the Irish pound against the Deutschemark and the US dollar to date this year.

All of the maturing foreign currency debt in 1983 will be refinanced through new foreign currency borrowings and the Government's net borrowing programme will not be affected.