The Namibia Press Agency, (NAMPA), was established in 1991 as a national news agency responsible for the distribution of local, regional and international news.

Irish "bad bank" pays off last of senior debt

Contributed by NAMPA / Reuters.

By Padraic Halpin
DUBLIN, Oct 13 (Reuters) - The "bad bank" set up almost a
decade ago to mop up toxic assets in Ireland's financial system
marked a milestone on Friday by redeeming the final tranche of
government-guaranteed senior debt three years ahead of schedule.
Established in 2009, the National Asset Management Agency
paid 32 billion euros ($38 billion) to purge Irish banks of 74
billion euros of risky loans, after a property crash left them
near collaps ...

 

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