Irish debt stands at €1.1 trillion

Updated: 15:27, Wednesday, 10 March 2010

New figures from the Central Bank show that at the end of January, Irish residents - mostly companies and institutions - had an outstanding debt of €1.1 trillion.

1 of 1 Central Bank Govt debt is €78bn
Central Bank
Govt debt is €78bn

Figures for issued debt securities indicate that €790bn worth of this debt is denominated in euro, while the remaining €270bn worth is denominated in foreign currencies.

Most of this amount - some €789.1bn - is accounted for by entities based in the IFSC, including companies involved in asset finance, securitisation and treasury management.

Irish financial institutions including banks account for €182.6bn of the debt securities, of which €46.8bn is in short term securities.

Irish Government debt at the end of January was €78bn, an increase of €6.7bn since the end of December, and reflecting a five billion Euro bond issue in January.

Irish pension funds and insurance companies account for €2.2bn of the outstanding debt instruments.

Around 9% of the outstanding debt is in the form of short-term instruments, mostly due for repayment this year.

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