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Share of Irish debt held by non-residents up from 52% to 59%

The Central Bank says non-residents are buying up a large proportion of newly issued government bonds
The Central Bank says non-residents are buying up a large proportion of newly issued government bonds

The proportion of Irish government debt owed to people and institutions resident outside the state has risen significantly over the past 12 months.

Non-residents held 58.9% of Irish government bonds, €73 billion at face value, up from 52.4% a year earlier.

The latest Central Bank figures, which cover the period up to the end of May 2015, show the nominal value of outstanding Irish government bonds was €124 billion, an increase of €789m compared to the previous month.

A statement by the Central Bank alongside the figures said this reflects the fact that a large proportion of government bonds which have been issued over the past year have been bought by non-residents.