![]() ![]() The Irish government has pre-financed itselffor 2014: we estimate the exchequer had a cash balance of E26.2 billion (15.6%of GDP) at end-June 2013. As a result, Ireland's net generalgovernment debt could reduce faster than we currently expect if NAMA monetizesits loan assets more rapidly, resulting in either repayment of its obligationsor further accumulation of cash. However, untilthese are sold, NAMA's loan assets are not considered liquid assets in ourestimate of net general government debt. What do you study? fina fittor Based on our current growth and fiscal assumptions, we expect net generalgovernment debt to peak at 122% of GDP in 2013 but to decline to 112% by 2016.Our estimate of Ireland's gross and net general government debt includesNational Asset Management Agency (NAMA) obligations issued to purchasedistressed assets from participating Irish banks at a discount.
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