In Budget 2024, the Government of Canada reiterated its commitment to maintain liquid foreign reserves at or above three per cent of nominal gross domestic product.
To support this commitment, the Government of Canada today announced its intention to launch a US-dollar-denominated global bond tomorrow, March 11, subject to market conditions.
Launching a global bond provides funds to supplement and diversify Canada's liquid foreign reserves, which serve as a source of prudential liquidity and help promote orderly market conditions for the Canadian dollar in foreign exchange markets.
This US-dollar global bond will further strengthen the stability of Canada's foreign currency reserves while meeting investor demand for high-quality assets backed by Canada's triple-A credit ratings from most major credit rating agencies.
