News Headlines | Irish national debt could reach €250bn by 2030s - NTMA

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Ireland’s national debt, now about €200 billion, could rise to €250 billion by the 2030s, and NTMA chief executive Frank O’Connor told the Oireachtas Public Accounts Committee that such “very high‑level indebtedness” carries significant risk and requires vigilant management. He noted the agency oversaw a €30 billion debt when it was founded 35 years ago and that servicing costs fell to €3.2 billion in 2024 – 60 % below the 2013 peak – thanks to the era of record‑low interest rates, but warned that this cheap‑borrowing window has closed and future rate hikes will raise debt‑service expenses. O’Connor also briefed the committee on a recent €5 million voice‑phishing attack on the NTMA, of which half has been recovered, and confirmed that enhanced controls and a Deloitte‑led forensic review have been implemented to prevent further financial‑crime losses.

Read more: https://www.rte.ie/news/2026/0514/1573230-ireland-ntma-debt/

#NTMA #FrankOConnor #OireachtasCommittee #InvestmentFund

News Headlines | NTMA still to recover €2.5m stolen in phishing attack

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The National Treasury Management Agency (NTMA) has recovered €2.5 million of the €5 million lost in a voice‑phishing scam that targeted a fake invoice from an Ireland Strategic Investment Fund investee, and will tell the Public Accounts Committee that its IT systems were never compromised. An independent Deloitte forensic review, now completed, confirmed the breach was limited to the fraudulent payment request and led to a set of recommended safeguards, which the agency has fully implemented. Chief Executive Frank O’Connor will also update the committee on the national debt, now around €200 billion and projected to approach €250 billion by the 2030s, stressing that while low‑interest‑rate conditions have helped lower borrowing costs, future debt servicing will become more costly as rates rise and low‑cost debt matures. The NTMA continues efforts to recover the remaining €2.5 million.

Read more: https://www.rte.ie/news/2026/0514/1573230-ntma-still-to-recover-2-5m-stolen-in-phishing-attack/

#NTMA #FrankOConnor #Deloitte #PublicAccounts #TreasuryManagement #FrankOConnor

[16:03] €2.2m paid in performance-related payments to NTMA staff

A total of €2.2m was paid out in performance-related payments to 262 staff at the National Treasury Management Agency (NTMA) last year.

https://www.rte.ie/news/business/2024/0930/1472785-ntma-bonus-payments-c-ag-report/

#€2.2m #262 #theNationalTreasuryManagementAgency #NTMA #lastyear

#WestBank / Irish Minister McGrath notes NTMA confirmation of divestment from certain investments in the Occupied Palestinian Territory

Minister McGrath stated:

“I have been advised by the NTMA that it has decided to divest from certain ISIF global portfolio investments in companies that have certain activities in the Occupied Palestinian Territory.

[…] The divestment decision relates to shareholdings with a total value of €2.95m in the following six companies: Bank Hapoalim BM; Bank Leumi-le Israel BM; Israel Discount Bank; Mizrahi Tefahot Bank Ltd; First International Bank and Rami Levi CN Stores.

The National Treasury Management Agency (#NTMA) controls and manages the Ireland Strategic Investment Fund (#ISIF) on behalf of the State.

Minister McGrath Notes NTMA Confirmation of Divestment from Certain Investments in the Occupied Palestinian Territory. 5 Apr. 2024, https://www.gov.ie/en/press-release/af66f-minister-mcgrath-notes-ntma-confirmation-of-divestment-from-certain-activities-in-the-occupied-palestinian-territory/#.

@israel
@palestine
#Israel #Gaza #WarCrimes #Ireland #BDS