Treasury Minister Eddie Teare has been asked how well he understands the possible impact of the Isle of Man's sovereign credit rating being downgraded.
In the House of Keys today (Tuesday) he was asked about any discussions he had with Standard and Poor's before the announcement was made about the Island losing its AAA status.
Onchan MHK and member of the Liberal Vannin Party Zac Hall asked him to explain what steps he was taking to address the Island's external vulnerabilities as a result of the change.
Mr Teare said he wasn't directly involved in discussions with the credit rating agency, but had been kept up to date with the talks by Treasury officials.
He said little could be done to address the vulnerability issue, but Mr Hall pushed him further, saying only last week Mr Teare had confirmed the Island did have external debts.
This is part of what Mr Hall had to say:
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