question on Central Bank/ELA funding to IBRC

ross81

Registered User
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7
Just read Simon Carswell's article from Jan 30 and trying to get my head around everything....what I don't understand, and maybe someone can clear this up for me, is why are the government paying interest (and principal later on down the track) of 8.2% to IBRC snr bondholders when ELA funding of 42 bn has already been paid to them from the Central Bank? In other words it seems like it is being paid twice for the same debt. Or am I muddling it all up?
 
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