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Ottawa, November 30, 2001
2001-110

Minister of Finance releases Debt Management Report for 2000-01

Related Document:

• Debt Management Report.

Finance Minister Paul Martin today tabled in the House of Commons and the Senate the Debt Management Report (DMR) of the Government of Canada for fiscal year 2000-01.

As noted in the report, the federal government paid down $17.1 billion in debt in 2000-01, its largest paydown ever. In the last four years the federal government has reduced its debt by $35.8 billion.

The net public debt now stands at $547.4 billion, or 51.8 per cent of gross domestic product, compared to almost 71 per cent in 1995-96. This debt reduction is saving the Government $2.5 billion each year in interest payments, providing greater financial security for Canadians, which is particularly important in the current economic environment.

The DMR provides Canadians with comprehensive information on the federal government’s debt strategy and the related borrowing and cash management operations in 2000-01. The principal strategic objectives over the last fiscal year were maintaining a liquid and well-functioning Government of Canada securities market in a declining debt environment, and preserving a prudent financial position and operational framework.

The DMR may be viewed free of charge on the Department of Finance Web site at the address shown below. Printed copies cost $10.70 and may be ordered by calling the Department’s Distribution Centre at (613) 995-2855.

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