The Minister for Finance and Public Expenditure & Reform, Paschal Donohoe TD, has today (Friday) welcomed NAMA’s announcement that it is to redeem its final €500m tranche of the €30.2bn Government guaranteed senior debt a full three years ahead of its original schedule.
Speaking on the announcement Minister Donohoe stated; ‘This is a remarkable achievement and a landmark day in Ireland’s recovery from the financial crisis, which every day we leave further behind. Today’s announcement is a testament to the focus and dedication of the NAMA Board and staff. In particular, I want to thank the NAMA Chairman, Frank Daly, and Chief Executive, Brendan McDonagh, for their guidance which has been instrumental in reaching this point’.
“NAMA’s performance has always, to some degree, been linked to Ireland’s recovery. The fact that NAMA is currently forecasting a surplus of €3bn, which will accrue to the State over the coming years, is a testament to the strength of our economy and the journey we have made. Budget 2018, which I delivered this week, outlined plans to further utilise the skills and experience that have been built up in NAMA down through the years, and I look forward to those involved in the Agency continuing to make a contribution to our continued progress in the period ahead. ”