Treasury takes a knife to bond programme as finances improve

Tue, 17 Dec 2013

Dec. 17 (BusinessDesk) – Improving government finances mean the Treasury will issue $2 billion less in government bonds in the current financial year, will buy back up to $3 billion of bonds on issue, and will delay the launch of a new long-dated bond until the next financial year, at the earliest. A statement from the New Zealand Debt Management Office accompanying today’s Half Year Fiscal and Economic Update effectively concedes that the government over-borrowed for its expected financing needs last year, as its cash position improved faster...

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