Government of Canada plans to issue US-dollar global bond

From: Department of Finance Canada

News release

March 10, 2025 - Ottawa, Ontario - Department of Finance Canada

In Budget 2024, the Government of Canada reiterated its commitment to maintain liquid foreign reserves at or above three per cent of nominal gross domestic product.

To support this commitment, the Government of Canada today announced its intention to launch a US-dollar-denominated global bond tomorrow, March 11, subject to market conditions.

Launching a global bond provides funds to supplement and diversify Canada’s liquid foreign reserves, which serve as a source of prudential liquidity and help promote orderly market conditions for the Canadian dollar in foreign exchange markets.

This US-dollar global bond will further strengthen the stability of Canada’s foreign currency reserves while meeting investor demand for high-quality assets backed by Canada’s triple-A credit ratings from most major credit rating agencies.

Quick facts

  • Canada holds its liquid foreign reserves in the Exchange Fund Account (EFA).

  • Foreign exchange reserves provide a general source of prudential liquidity and help promote orderly conditions for the Canadian dollar in foreign exchange markets.

  • Global bonds are one source of funding that Canada uses to purchase foreign currency assets for the EFA.

  • The Government of Canada last issued a US-dollar bond on April 23, 2024 worth US$3 billion.

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Contacts

Media may contact:

Media Relations
Department of Finance Canada
mediare@fin.gc.ca
613-369-4000

General enquiries

Phone: 613-369-3710
Facsimile: 613-369-4065
TTY: 613-369-3230
E-mail: financepublic-financepublique@fin.gc.ca

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