MINISTER OF FINANCE TABLES DEBT MANAGEMENT STRATEGY FOR 2004-2005

News Release

Ottawa, March 30, 2004 2004-026 Related document: Debt Management Strategy - 2004-2005. Minister of Finance Ralph Goodale today tabled in the House of Commons and the Senate the Government of Canada's Debt Management Strategy for fiscal year 2004-05. The document provides details on federal borrowing and investment policies for the coming fiscal year. As in recent years, the Government's objective will be to maintain stable, low-cost funding while maintaining a well-functioning market for Government of Canada securities. The Government will continue to target a gradual reduction in the fixed-rate share of the federal debt to 60 per cent in 2007-08 from two-thirds in 2002-03. The reduction in the target is made possible by significant improvements in Canada's economic and fiscal position in recent years. The 60-per-cent debt structure is expected to save up to $500 million, on average, in net annual costs. This year's Debt Management Strategy announces a number of operational adjustments designed to enhance the functioning of the Government of Canada securities market, reflecting recommendations made by market participants during two consultations over the past year. For example, real return bonds will remain a part of the Government's debt program, with issuance in 2004-05 equal to or marginally higher than previous years. In addition, the publication by the Bank of Canada of results for auctions and buybacks will be released in advance of the current fixed turnaround times on a "best efforts" basis (i.e. when ready), which should result in a significant reduction in turnaround times. The publication may be viewed free of charge on the Department of Finance Web site. For further information: Andrée Houde Public Affairs and Operations Division (613) 996-8080 Pat Breton Press Secretary Office of the Minister of Finance (613) 996-7861 Nigel Stephens Financial Markets Division (613) 943-1944

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2016-12-15

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MINISTER OF FINANCE TABLES DEBT MANAGEMENT STRATEGY FOR 2004-2005

News Release

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