Ceisteanna—Questions. Oral Answers. - External Assets.

Thursday, 19 July 1973

Dáil Eireann Debate
Vol. 267 No. 9

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87.

Dr. O'Connell: Information on John F. O'Connell  Zoom on John F. O'Connell  asked the Minister for Finance the value of this country's external assets at the latest available date; and the corresponding figure at the same date last year.

88.

Dr. O'Connell: Information on John F. O'Connell  Zoom on John F. O'Connell  asked the Minister for Finance if he will give details of where and in what form this country's external assets are held.

89.

Dr. O'Connell: Information on John F. O'Connell  Zoom on John F. O'Connell  asked the Minister for Finance the total value of this country's gold reserves at the latest available date; and the corresponding value at the same date last year.

Mr. R. Ryan: Information on Richie Ryan  Zoom on Richie Ryan  With your permission, a Cheann Comhairle, I propose to take Questions Nos. 87, 88 and 89 together.

I presume the Deputy is referring to the official external reserves which are held by the Central Bank. The latest statistics available show that these reserves at the end of May amounted to £407.5 million as follows:

£ million
Gold 7.6
Special Drawing Rights issued by the International Monetary Fund 16.4
Reserve position in International Monetary Fund 17.8
Sterling 247.8
Other foreign exchange 117.9

The corresponding total for end-May, 1972 was £404.3 million, including gold valued at £6.5 million.

Mr. Haughey: Information on Charles J. Haughey  Zoom on Charles J. Haughey  Would the Minister have available the corresponding external indebtedness, in other words, the [1494] related figures of indebtedness to that figure of £407.5 million of assets?

Mr. R. Ryan: Information on Richie Ryan  Zoom on Richie Ryan  It is a separate question to which I do not have the reply here.

Mr. Haughey: Information on Charles J. Haughey  Zoom on Charles J. Haughey  Perhaps the Minister would confirm for me that the figure of £407.5 million is the figure of gross external assets, that it does not take into account any official foreign indebtedness?

Mr. R. Ryan: Information on Richie Ryan  Zoom on Richie Ryan  Yes, I think that would be the position.


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