Ireland’s National Treasury Management Agency (NTMA) said it plans to issue €10 billion to €14 billion of bonds over the course of 2022.

This represents a reduction on the €18.5 billion issued in 2021.

The NTMA web site says Ireland’s Gross National Debt was €239.3 billion at the end of November 2021.

“The NTMA will issue a statement at the beginning of each calendar quarter outlining the bond auction plans for that quarter,” said the NTMA.

“It also intends to hold at least one syndicated bond deal during the year.

“The NTMA will continue to issue Treasury Bills during 2022 and further details will be contained in the quarterly announcements.”

NTMA Director of Funding and Debt Management Frank O’Connor said: “The reduced borrowing range for 2022 reflects Ireland’s improving fiscal position and our long-standing strategy of pre-funding liabilities.

“With one of the longest maturity profiles in Europe and lower redemptions over the medium term, we have considerable flexibility in meeting Ireland’s future borrowing requirements.”