Ottawa, December 7, 2012
The Honourable Jim Flaherty, Minister of Finance, today tabled in Parliament the 2011–12 Debt Management Report, which demonstrates once again that the Harper Government’s fiscal prudence has helped to make Government of Canada-issued debt among the world’s most sought-after investments.
“In light of ongoing economic uncertainty, Canada has not been idle,” said Minister Flaherty. “We have refined our fiscal prudence through a new medium-term debt management strategy and prudential liquidity plan focused on stability and reducing financial risk.”
The report highlights the Government of Canada’s comparative strengths across a host of internationally recognized indicators, including maintaining the highest possible credit ratings from all major credit rating agencies.
The report also highlights the independent findings of the Auditor General of Canada, who assessed the Government’s management of interest-bearing debt from April 1, 2007 to March 31, 2011. The Auditor General concluded that the Government was monitoring and achieving the objective of maintaining a well-functioning Government of Canada securities market, while striking a balance between costs and risks.
The Debt Management Report can be viewed on the Department of Finance website.
Office of the Minister of Finance
Department of Finance