NET foreign loans and currency losses
The Minister provided the foreign-loan details in a statement to be circulated and reported unrealised book losses of just over £18.61 million from exchange-rate changes; actual losses would depend on rates when loans are repaid.
asked the Minister for Industry, Commerce and Tourism the estimated total foreign loans raised for NET since 1970; the currency denominations of these loans; and the estimated revenue loss as a result of the fall in value of the Irish pound.
Comment on this
The answer to the first two parts of the Deputy's question is in the form of a tabular statement which, with the permission of the Ceann Comhairle, I propose to circulate with the Official Report.
The unrealised book losses arising on the foreign currency borrowings referred to in the tabular statement, as a result of the net change in exchange rates between the time of borrowing and 31 December 1980, amount to just over IR £18.61 million. The actual losses will be determined by the relationship between the Irish pound and the other currencies on the dates of repayment.
Following is the statement:
Total medium-term and bridging facility borrowings raised by Nitrigin Éireann Teoranta since 1 January 1970.