The National Asset Management Agency has said it will not engage in speculative hoarding of assets.

Its comments come after the International Monetary Fund yesterday advised the new agency that ‘moving ahead with early sales is important’.

The IMF said the delays proved costly when a similar bad bank system was introduced in the US.

A spokesman for NAMA said the new agency ‘will reflect market conditions in its decision as to whether to sell individual properties with the goal of disposing of assets in a phased and orderly manner.’