4.99pc interest on the €22.5bn IMF loan = €1.2bn interest

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IMF charges twice as much as Europe for Irish bailout - Colm Kelpie -> independent.ie/business/iris … 48386.html

The International Monetary Fund (IMF) has added a percentage point on to the interest being charged on Ireland’s bailout loan.
The State is now paying an estimated 4.99pc interest on the €22.5bn loan from the Washington-based lender – more than twice the cost Ireland is currently being charged to raise 10-year money on the international markets.
At 4.99pc of €22.5bn, the interest bill is €1.12bn.
The yield on Ireland’s 10-year-bond yesterday afternoon was 2.25pc, another record low and below both the UK and US. The State can borrow seven-year debt for 1.2pc per year. The IMF loan has an average maturity of about seven years.
At 1.2pc, the interest bill on €22.5bn would be €270m.

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