New Zealand Debt Management and the Reserve Bank are committed to collaborating closely to ensure the efficient functioning of the NZGB market and have released a press release stating that the NZ increases 2019/20 Government bond Programme to NZ$25 Bln.
Bond Programme Increased to NZ$25 Billion press release
The forecast 2019/20 New Zealand Government Bond (NZGB) programme is now set at NZ$25 billion. This represents revised assessments of funding requirements due to additional fiscal impacts of COVID-19. This is NZ$12 billion higher than the forecast NZGB programme, updated on 17 March 2020. NZ$8 billion of NZGB issuance has already been undertaken in the fiscal year to date. Due to the rapidly evolving COVID-19 situation, further updates may be required as new information becomes available.
New Zealand Debt Management (NZDM) remains committed to its three core principles of transparency, consistency and even-handedness. However, the current circumstances require a more flexible approach relative to established issuance practices.
More to come…
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