Has the Republic of Ireland repaid the £9 billion provided by the UK after the 2009 financial crisis?

Question

Has the Republic of Ireland repaid the £9 billion provided by the UK after the 2009 financial crisis?

Answer 1

Has the Republic of Ireland repaid the £9 billion provided by the UK after the 2009 financial crisis?

The word we usually use is "loaned" (provided is quite ambiguous in these circumstances). This is important because Ireland is paying interest over that sum. And the interest is similar to the ones being used in the euro zone.

The bailout was made by several agencies including:

• European Financial Stabilisation Mechanism (EFSM)

• European Financial Stability Facility

• IMF

• And bilateral agreements in between Ireland and UK, Sweden and Denmark.

Recently the Irish government showed interest in repaying the loans to Denmark and Sweden. But not to the UK since paying sooner would not be beneficial under their bilateral agreement (emphasis is mine; the article is from September, 2017).

The government will also seek to repay 600 million euros owed to Sweden and 400 million to Denmark in bilateral loans that were part of the bailout package.

But Donohoe said he would not seek early repayment of a British bilateral bailout loan as its fixed terms would not allow for any savings.

EDIT (added information by user @richardb)

• Under the terms of the Loans to Ireland Act 2010, HM Treasury is obliged to produce six-monthly reports on the state of the loans. At the time of writing, a total of £3,226,960,000 has been loaned under the arrangement. Ireland has paid £399,592,136.04 in interest. None of the maturity dates of the individual loans has been reached, so no repayment of the principal has been made.