Ottawa, December 10, 2013
2013-164
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The Honourable Jim Flaherty, Minister of Finance, today tabled in Parliament the 2012–13 Debt Management Report, showcasing once again how Canada’s fiscal and financial sector fundamentals have made Government of Canada-issued debt among the world’s most sought-after investments.
“We remain committed to the goal of a liquid, well-functioning government securities market. Our record remains as strong as our resolve to act, especially in the midst of an uncertain global economy,” said Minister Flaherty.
Government of Canada-issued debt in 2012–13 enjoyed strong demand in both primary and secondary markets as a result of an ongoing flight to high quality assets globally. Accordingly, treasury bill and bond auctions remained well-covered and well-bid.
The success of Canada’s debt management strategy lies in its flexibility in the face of change. In 2012, for example, the Government announced it would reallocate $10 billion of issuance from short-term bonds into 10- and 30-year nominal bonds over a two-year period, which will contribute to a reduction in refinancing risk at a low cost.
This latitude also allowed the Government to fast-track the implementation of the prudential liquidity plan, well in advance of the original target date of March 2014, further bolstering confidence in Canadian government debt.
The Debt Management Report can be viewed on the Department of Finance website.
Marie Prentice
Press Secretary
Office of the Minister of Finance
613-996-7861
Jack Aubry
Media Relations
Department of Finance
613-996-8080
