The Chairman of the National Assets Management Agency has rejected claims that there is a lack of communication between the agency and the Government.

Speaking on RTE radio, Frank Daly responded to claims made by economic consultant Peter Bacon who said the Government is "afraid to tackle" NAMA.

"The model that NAMA has to go on is the model that the Oireachtas set up and as a result we have a lot of interaction on a regular basis with Government,'' Mr Daly said.

''We have regular meetings with the Minister for Finance - twice a month perhaps," he added.

The NAMA chairman also said the agency was the only state body in this country that produces quarterly financial reports.