In Budget 2023, the Government of Canada reiterated its commitment to maintain liquid foreign reserves at or above three per cent of nominal gross domestic product.
To this end, the Government of Canada today announced its intent to issue a US-dollar-denominated global bond tomorrow, April 19, subject to market conditions.
Issuing a global bond provides funds to supplement and diversify Canada's liquid foreign reserves, which help promote orderly conditions for the Canadian dollar in foreign exchange markets and provide a source of liquidity to the government, if needed.
This US-dollar global bond will contribute to the stability of Canada's foreign currency reserves, while also meeting the demand of investors seeking investment opportunities that benefit from Canada's AAA credit rating from most major credit rating agencies.
