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Statement of Borrowings (as at 30 June 2005)

Forecast Actual
Original Budget $m Estimated Actual $m Total Sovereign-Guaranteed Debt 30 June 2005 $m 30 June 2004 $m
Original Budget $m Estimated Actual $m Total Sovereign-Guaranteed Debt 30 June 2005 $m 30 June 2004 $m
Forecast Actual
Sovereign Guaranteed Debt
New Zealand-Dollar Debt
16,283 15,803 Government stock 16,058 17,351
5,393 5,228 Treasury bills 5,245 5,525
(500) (6,123) Foreign-exchange contracts and loans (6,123) (1,098)
516 583 Retail stock 583 654
21,692 15,491 Total New Zealand-Dollar Debt 15,763 22,432
Foreign-Currency Debt
1,998 7,909 United States dollars 7,906 3,079
729 252 Japanese yen 252 1,015
2,201 4,731 European and other currencies 4,724 3,432
4,928 12,892 Total Foreign-Currency Debt 12,882 7,526
26,620 28,383 Total Sovereign-Guaranteed Debt 28,645 29,958
Non-Sovereign-Guaranteed Debt[1]
7,247 5,945 New Zealand dollars 5,601 4,283
867 1,542 United States dollars 1,541 1,679
- - Japanese yen 324 351
123 496 European and other currencies 753 554
8,237 7,983 Total Non-Sovereign Guaranteed Debt 8,219 6,867
34,857 36,366 Total Borrowings 36,864 36,825
Less
Financial Assets (including restricted assets)
Marketable Securities, Deposits and Equity Investments
7,055 5,113 New Zealand dollars 6,487 7,089
3,789 9,769 United States dollars 9,733 4,069
763 789 Japanese yen 789 1,206
765 4,449 European and other currencies 4,455 2,814
857 702 Reserve position at International Monetary Fund (IMF) 702 1,012
2,036 2,456 New Zealand equity investments 2,385 1,968
8,031 8,334 Foreign equity investments 8,511 6,478
23,296 31,612 Total Marketable Securities, Deposits and Equity Investments 33,062 24,636
Advances and Cash and Bank
6,864 6,476 Student loans 6,465 5,995
2,057 2,383 Other advances 2,071 1,450
2,121 3,281 Cash 3,710 3,450
11,042 12,140 Total Advances and Cash 12,246 10,895
34,338 43,752 Total Financial Assets 45,308 35,531
519 (7,386) Borrowings less Financial Assets (8,444) 1,294
6,560 1,462 Net New Zealand-dollar (assets)/debt (13) 6,862
(6,041) (8,848) Net foreign-currency (assets)/debt (8,431) (5,568)
519 (7,386) Borrowings less Financial Assets (8,444) 1,294
  • [1] Non-sovereign guaranteed debt is a mixture of secured and non-secured debt. Where debt is secured it is over assets of the particular entity or by way of a negative pledge that while any of the stock issued under the relevant deed remains outstanding the entity will not, subject to certain exceptions, create or permit to exist any charge or lien over any of their respective assets.

The accompanying notes and accounting policies are an integral part of these statements.

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