Government of Canada plans to issue US-dollar global bond

From: Department of Finance Canada

News release

May 19, 2026 – Ottawa, Ontario - Department of Finance Canada 

In Budget 2025 and Spring Economic Update 2026, the Government of Canada reiterated its commitment to maintain liquid foreign reserves at or above three per cent of nominal gross domestic product. 

To this end, today the Government of Canada launched a US-dollar-denominated global bond, with pricing to be finalized tomorrow.

Global bonds raise money to add to and diversify Canada’s foreign currency reserves. These reserves act as a financial buffer for the government and help support stable trading of the Canadian dollar in foreign exchange markets, if ever needed.

This week’s 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 AAA 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 March 11, 2025 worth US$3.5 billion.

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Contacts

Media may contact:

John Fragos
Press Secretary
Office of the Minister of Finance and National Revenue
john.fragos@fin.gc.ca

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

General enquiries

Phone: 1-833-712-2292 
TTY: 613-369-3230 
E-mail: financepublic-financepublique@fin.gc.ca

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2026-05-19