Prospective investors need to feel confident about Irish Republic in particular and the European Union in general, said the Irish debt management agency stressing the country’s debt and fiscal targets are both achievable and sustainable. The agency was commenting on the prospect of Ireland accessing the debt markets again.
Underlining that need for reasonable cost of borrowing, John Corrigan of National Treasury Management Agency (NTMA) said, Ireland will consider tapping the debt market again if it manages to raise funds at rates similar to the IMF-EU bailout package, which is estimated at 5.8 percent.
Addressing the media after NTMA published its annual reports, Mr. Corrigan said: “Investor scepticism is understandable”. Stating his country was staring at sovereign debt crisis and a possible default, he said: “But the EU-IMF package gives us breathing space”.