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…
Tag Archives: Mark Kennedy & Co.
Former IMF deputy director general Donal Donovan said he believes it is possible for a “fairly quick rebound” once the coronavirus crisis passes and confidence returns to the Irish economy. Mr Donavan said that this crisis is quite unlike the situation in 2008/2009, when banks went bust, the construction industry collapsed and there was huge…
533,000 people have today been issued payments of the Covid-19 Pandemic Unemployment Support payment – up 26,000 on the figure a week ago, according to the Department of Employment Affairs and Social Protection. Around 54,000 of those are receiving payments for the first time. These Covid Pandemic payments first introduced on 16 March are in…
The country’s five retail banks may extend loan repayment breaks to help homeowners cope with the impact of the coronavirus to six months from the three months currently in place, the head of their representative body has said. The banks agreed the measure in the middle of last month and had granted or were close…
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,…
Consumer sentiment suffered its largest monthly drop on record in April, a survey showed today, demonstrating the scale and speed of the economic collapse unleashed by the coronavirus pandemic. Restaurants, bars and non-essential retail outlets have been closed in stay-at-home restrictions put in place on March 29. These restrictions are due to run until at…
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…
The Covid-19 unemployment payments will cost the Government just under €5bn for three months, according to an analysis by the Economic and Social Research Institute. The ESRI also warns that the cap on higher earners in the wage subsidy scheme may encourage firms to lay off those employees rather than retaining them. The Government has introduced…
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…