Statement of Borrowings
(as at 30 June 2007)
| Forecast | Actual | |||
|---|---|---|---|---|
| Original Budget | Estimated Actual | 30 June 2007 | 30 June 2006 | |
| $m | $m | $m | $m | |
| Sovereign Guaranteed Debt | ||||
| New Zealand-Dollar Debt | ||||
| 15,982 | 16,337 | Government stock[1] | 16,833 | 17,002 |
| 5,259 | 2,577 | Treasury bills | 2,080 | 4,860 |
| (10,131) | 8,944 | Foreign-exchange contracts and loans[2] | 16,366 | (11,247) |
| 482 | 472 | Retail stock | 471 | 532 |
| 11,592 | 28,330 | Total New Zealand-Dollar Debt | 35,750 | 11,147 |
| Foreign-Currency Debt[2] | ||||
| 9,309 | 122 | United States dollars | (3,937) | 14,430 |
| 508 | (196) | Japanese yen | (603) | 404 |
| 7,151 | 2,563 | European and other currencies | (857) | 3,898 |
| 16,968 | 2,489 | Total Foreign-Currency Debt | (5,397) | 18,732 |
| 28,560 | 30,819 | Total Sovereign-Guaranteed Debt | 30,353 | 29,879 |
| Non-Sovereign-Guaranteed Debt[3] | ||||
| 7,827 | 9,391 | New Zealand dollars | 8,900 | 7,198 |
| 1,988 | 2,015 | United States dollars | 1,564 | 1,794 |
| - | - | Japanese yen | 133 | 279 |
| 13 | 142 | European and other currencies | 435 | 277 |
| 9,828 | 11,548 | Total Non-Sovereign Guaranteed Debt | 11,032 | 9,548 |
| 38,388 | 42,367 | Total Borrowings | 41,385 | 39,427 |
| Less | ||||
| Financial Assets (including restricted assets) | ||||
| Marketable Securities, Deposits and Equity Investments | ||||
| 5,213 | 19,072 | New Zealand dollars[2] | 44,554 | 8,003 |
| 11,608 | 11,221 | United States dollars[2] | (10,860) | 11,080 |
| 1,173 | 719 | Japanese yen[2] | (286) | 615 |
| 7,255 | 4,288 | European and other currencies[2] | (191) | 7,970 |
| 275 | 221 | Reserve position at International Monetary Fund (IMF) | 183 | 458 |
| 3,643 | 2,547 | New Zealand equity investments | 3,598 | 2,721 |
| 14,065 | 13,947 | Foreign equity investments | 14,491 | 12,673 |
| 43,232 | 52,015 | Total Marketable Securities, Deposits and Equity Investments | 51,489 | 43,520 |
| Advances and Cash and Bank | ||||
| 5,868 | 5,761 | Student loans | 6,011 | 5,569 |
| 4,153 | 4,434 | Other advances | 4,255 | 3,189 |
| 2,902 | 3,478 | Cash | 4,629 | 4,168 |
| 12,923 | 13,673 | Total Advances and Cash | 14,895 | 12,926 |
| 56,155 | 65,688 | Total Financial Assets | 66,384 | 56,446 |
| (17,767) | (23,321) | Borrowings less Financial Assets | (24,999) | (17,019) |
| (3,562) | 1,256 | Net New Zealand-dollar (assets)/debt | (18,829) | (5,569) |
| (14,205) | (24,577) | Net foreign-currency (assets)/debt | (6,170) | (11,450) |
| (17,767) | (23,321) | Borrowings less Financial Assets | (24,999) | (17,019) |
Notes
- [1] Government stock includes $50 million of infrastructure bonds.
- [2] Included within these categories are associated derivative transactions. Each transaction is recorded as an asset or a liability based on its year-end value. Where derivatives (currency swaps and foreign exchange contracts) involve NZ dollar and foreign-currency flows, the flows are separately classified with the result that both positive and negative values are reported within assets and liabilities.
- [3] 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.
