Ireland repays Danish bilateral bailout loan

Ireland repays Danish bilateral bailout loan


Share on Facebook
Share on Twitter
Share on Google+
Share on LinkedIn
+

Ireland paid back a 400 million loan to Denmark on Tuesday four years earlier.

The loan was due to be repaid in 2021, that is, an early settlement will save the Irish taxpayer €10 million.

The loan was contracted during the November 2010 Irish crisis, in the context of a 67,5bn bailout agreement with the participation of the European Financial Stabilization Mechanism, the European Central Bank, and the International Monetary Fund.

The Irish loan also included bilateral loans from the U.K, Sweden, and Denmark. Dublin will also repay Sweden and the IMF, reducing its debt burden by 150 million. 

The Danish finance ministry hailed Ireland’s early and “exemplary” recovery, which will save Dublin. Currently, the Irish economy is one of Europe’s fastest growing.

Share on Facebook
Share on Twitter
Share on Google+
Share on LinkedIn
+