Ottawa, February 6, 2012
The Honourable Jim Flaherty, Minister of Finance, today announced that the Government of Canada plans to issue a US-dollar-denominated global bond later this week, subject to market conditions.
The bond issue will provide funds to supplement and diversify Canada’ s foreign exchange reserves and to meet foreign currency requirements .
Canada holds its foreign exchange reserves in the Exchange Fund Account (EFA). EFA assets provide foreign currency liquidity and support the promotion of orderly conditions for the Canadian dollar in foreign exchange markets. Funds for the EFA can be raised through cross-currency swaps of Canadian-dollar borrowings, foreign-currency-denominated debt issues and outright purchases of foreign currency.
For further information, media may contact:
Mary Ann Dewey-Plante
Office of the Minister of Finance
Department of Finance
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