Archived - Minister of Finance Tables Debt Management Report for 2013–14

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December 9, 2014 – Ottawa, Ontario – Department of Finance

Finance Minister Joe Oliver today tabled in Parliament the 2013–14 Debt Management Report.

Debt management over the past fiscal year has been characterized by strong demand for Government of Canada debt securities and the Government’s continued commitment, with long-term interest rates remaining near historic lows, to reallocating short-term issuance toward long-term bonds.  

The full Debt Management Report can be viewed on the Department of Finance website.

Quick Facts

  • Five credit rating agencies—Moody’s Investors Service, Fitch Ratings, Standard & Poor’s, Japan Credit Rating Agency and DBRS—have reaffirmed their top ratings for Canada, and it is expected Canada will maintain its AAA rating in the year ahead.
  • The Government issued a total of $3.5 billion in 50-year bonds this fiscal year. Canada received exceptionally strong demand from both domestic and international investors for all three issuances of the ultra-long bonds. Locking in additional low-cost funding for 50 years benefits Canadian taxpayers and reduces the Government’s refinancing risk, which is consistent with the key objectives of the medium-term debt strategy.
  • In February the Government issued a US$3 billion global bond, which was also met with very strong demand. It also successfully launched a medium-term note pilot program, which provides the Government with more flexibility to raise foreign currency.

Quote

“Maintaining a liquid, well-functioning government securities market will continue to be an important objective of the Government’s debt management strategy. As indicated in this year’s Debt Management Report, our Government will continue to prioritize prudent fiscal management while remaining on track to balance the budget in 2015.”

- Joe Oliver, Minister of Finance

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Media Contacts

Nicholas Bergamini
Press Secretary
Office of the Minister of Finance
613-369-5659

Stéphanie Rubec
Media Relations
Department of Finance
613-369-4000

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