Brent crude oil rose today after slumping below $16 a barrel to its lowest since 1999, supported by voluntary as well as the prospect of forced production cuts to tackle a glut caused by the coronavirus crisis. This month, OPEC+ agreed new oil output curbs but global measures to prevent the virus spreading have driven…
Tag Archives: consumer
The price of a litre of fuel has fallen significantly in recent weeks. However, with personal movement restricted to within a two kilometre radius of everyone’s home, the benefit of the price reduction is not being felt by many, other than those who need to carry out essential work. Why are prices falling and how…
The National Treasury Management Agency today completed an auction of Irish Treasury Bills, selling the target amount of €750m. The NTMA said that total bids received for the Treasury Bills amounted to €2.305 billion which was over three times the amount on offer. The Treasury Bills, which have a maturity of six months, were sold…
The International Monetary Fund is forecasting that Ireland’s economy will decline by 6.8% in Gross Domestic Product (GDP) terms this year, as a result of the impact of the Covid-19 pandemic. The figure is contained in the IMF’s World Economic Outlook, published today. The IMF believes that unemployment in Ireland will average 12.1% this year and 7.9% in 2021….
The government has announced measures to ensure the delivery of Exchequer-funded capital projects under Project Ireland 2040. The public health measures, introduced at the end of March to halt the progress of Covid-19, imposed restrictions on many areas of the economy including the construction sector. In a statement this evening, Minister for Finance Paschal Donohoe,…
The International Monetary Fund has announced immediate debt relief for 25 poor countries to help them free up funds to fight the coronavirus pandemic. “This provides grants to our poorest and most vulnerable members to cover their IMF debt obligations for an initial phase over the next six months and will help them channel more…
More than 45,000 mortgage payment breaks have been or are about to be given to borrowers suffering financial difficulty as a result of the Covid-19 pandemic. According to the Banking and Payments Federation Ireland (BPFI) this represents approximately 5% of the total mortgage market here. The initiative is being operated by all five of the…