Path for the Public Finances 2021: Ensuring debt sustainability in a post-Covid world

The Irish Fiscal Advisory Council hosted its fifth annual conference focusing on long-term public finance issues online on 8th-9th February 2021.



The conference focused on the theme of fiscal policy in the era of high public debt and low interest rates that follows the outbreak of Covid-19.

The conference had two sessions: the first looked at fiscal policy of high debt conditional on current interest rates (debt sustainability analysis; what does it means for the fiscal rules, how should policymakers respond). The second took a more “big picture” look at the sustainability of low interest rates given high public debt, ageing, financial implications and whether such pressures might influence monetary policy.

Press Release

Presentation slides


Antonio Fatás – Potential Output, Cyclical Scars and Fiscal Policy
Karolina Ekholm – Economic policy mix in a low interest rate environment
Olivier Blanchard – Debt sustainability in theory and in practice
Eddie Casey – Managing government debt at high altitude: velocity, instability and headwinds