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Summary of Direct Public Debt

Funded and Floating Debt

The following table sets forth the direct funded and floating debt of the Government on the dates indicated. For the purposes of all debt tables herein, "funded debt" means indebtedness with an original maturity of one year or more and "floating debt" means indebtedness with an original maturity of less than one year. Funded debt, and therefore total direct debt, includes swap transactions.

Total direct debt includes a net swap payable ($413.8 million at 30 June 2011) with offsetting impacts on internal and external funded debt. Swap transactions, which are included in almost all the following public debt tables, increase external funded debt and reduce internal funded debt in 2011.

  2007 2008 2009 2010 2011
As at 30 June (dollar amounts in millions)

Funded Debt[1]

         
Internal[2] 26,860.4 28,210.4 29,614.5 38,575.5 60,519.9
External[3],[4] 2,048.0 2,048.5 4,025.7 2,197.2 33.4

Floating Debt

         
Internal Debt[5] 2,303.4 1,655.0 7,505.0 8,065.0 7,326.0
External Debt[3],[6] - - 153.0 - 180.6
Total Direct Debt 31,211.4 31,913.9 41,298.2 48,837.7 68,059.9
Total Public Debt as a % of GDP[7] 18.9% 17.7% 23.1% 25.8% 34.1%
  • [1] Includes the effect of swap transactions. Excludes indebtedness to international financial organisations arising from membership.
  • [2] Includes Government Wholesale Bonds, Kiwi Bonds, Index Linked Bonds.
  • [3] External debt is converted at the mid-point of the 3.00 pm spot rate on 30 June for each year.
  • [4] Includes Public Bonds, Private Placements, Syndicated Loans, and Medium Term Notes.
  • [5] Treasury Bills.
  • [6] Includes Sovereign Notes and Euro-Commercial Paper.
  • [7] GDP: Treasury Estimate for June years.
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