asked the Minister for Finance the amount of loans from all sources negotiated by the Government from 1 January 1980 to 31 December 1980; the terms for the repayment of capital and interest in all cases; and how the money was spent.

As the reply is in the form of a tabular statement, I propose, with the permission of the Ceann Comhairle, to circulate it with the Official Report.

The following is the statement:

DOMESTIC LOANS ISSUED DURING 1980

All the securities listed above were issued at the prevailing market price. The yield to redemption date varied between 12.4 per cent and 17.5 per cent depending on the time of issue.

FOREIGN LOANS ISSUED DURING 1980

The EIB loans have various maturity dates up to 20 years and interest rates ranging from 7.8 per cent to 11.1 per cent depending on the currency and the date of borrowing.

The variable interest rate loans have maturity dates of up to ten years.

The domestic loans are shown at their nominal value and the foreign loans are valued using the exchange rate current at the date of borrowing.

All the borrowing was used to finance the Capital Budget and to repay maturing debt.

Does the Minister agree that if one takes the Government's foreign indebtedness plus the foreign indebtedness of the State companies and the net foreign liabilities of the banking system against our foreign external holdings, we are no longer a creditor nation internationally? Does the Minister not agree that in the few years the Government have been in office they have moved us from the position of being a strong international creditor nation into being an International debtor with a fear that the International Monetary Fund bank will interfere with us at any time? Does the Minister agree with the statement reported in the newspapers last night by a Fianna Fáil Deputy that the Government are going to the country before the House burns down around them?

I should like to know who wrote that statement for Deputy L'Estrange.

One of the Minister's colleagues.

The same person who wrote the Minister's budget speech. At least Deputy L'Estrange can read his.

It is the same person who wrote the Minister's reply to the Second Stage of the Finance Bill.

I should like to repeat what I said last night in the House, that our credit rating by recognised international bankers is higher than it has ever been.

The world is full of hot Arab money and the Government are fools enough to take it.

Will the Minister tell the House why Senator Whitaker condemned Government borrowing recently?

Go back to Senator Hussey.

Those in glass houses should not throw stones. Go back with another silver teapot over to Maggie Thatcher.

Will the Minister of State and Deputy L'Estrange please be orderly?

I have asked the Minister of State and Deputy L'Estrange to be orderly.

I suggest that the Minister of State should leave the House to try to find an office where he can go to.