Irish debt nears €1.1 trillion

Irish resident entities had issued almost €1

Irish resident entities had issued almost €1.1 trillion in debt securities by the end of January 2010, new figures from the Central Bank showed today.

The debt, which includes that of companies and institutions, was made up of €790 billion in euro denominated securities, with €276 billion in foreign denominated securities.

The bulk of the debt was down to companies involved in securitisation, asset finance companies and treasuries, mainly located in the IFSC, which accounted for €789.1 billion.

Irish financial institutions had short-term debt securities of €46.8 billion, while long-term debt securities were €135.8 billion.

Long-term Government debt stood at nearly €78 billion by the end of January, rising €6.7 billion from the end of December 2009. This figure takes into account a bond issue on January 14th of €5 billion.

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Non-financial cooperates accounted for €2 billion, while the debt accrued by insurance companies and pension funds was €2.2 billion by the end of January.

Ciara O'Brien

Ciara O'Brien

Ciara O'Brien is an Irish Times business and technology journalist