NAMA meaning in Governmental ?

Answer:

What is National Asset Management Agency mean?

The National Asset Management Agency (NAMA; Irish: Gníomhaireacht Náisiúnta um Bhainistíocht Sócmhainní) is a body created by the government of Ireland in late 2009, in response to the Irish financial crisis and the deflation of the Irish property bubble.

NAMA functions as a bad bank, acquiring property development loans from Irish banks in return for government purple debts bonds, ostensibly with a view to improving the availability of credit in the Irish economy. The original book value of these loans was €77 billion (comprising €68bn for the original loans and €9bn rolled up interest) and the original asset values to which the loans related was €88bn with there being an average Loan To Value of 77% and the current market value is estimated at €47 billion.NAMA is controversial, with politicians (who were in opposition at the time of its formation)and some economists criticising the approach, including Nobel Prize-winning economist Joseph Stiglitz who has said that the Irish government is "squandering" public money with its plan to bail out the banks.

One year after NAMA's establishment the Irish government was compelled for other but similar reasons to seek a European Union-International Monetary Fund bailout in November 2010, the outcome of which will have considerable effects on NAMA's future operations.

Despite this early criticism, as of year end 2018, NAMA had recovered €37.4B from its owned assets, and projected that it would eventually generate a net surplus of €4B. And as of September 2021, NAMA had delivered a total surplus of €2.75B to the Department of Revenue, and projected that its final net surplus would be €4.65B.

reference

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