Debt management

New Zealand Debt Management (NZDM) is part of Treasury, and oversees the Government's borrowing requirements and associated activities, with a goal of managing debt in a way that minimises costs while keeping risk at an appropriate level.

NZDM was established in 1988 as part of the reform of the Government’s financial management in order to improve the management of the risks associated with the Government’s debt portfolio.

Their major responsibilities include:

• financing the Crown’s gross borrowing requirement and managing New Zealand dollar and foreign-currency assets;
• settling and accounting for all transactions undertaken by NZDM;
• maintaining and developing an appropriate framework for efficiently managing the portfolio and the risks associated with it;
• disbursing cash to departments and facilitating departmental cash management;
• advancing funds to government entities in accordance with government policy;
• providing capital markets services and derivative transactions for departments and government entities;
• providing reporting for fiscal forecasting and financial statements; and
• maintaining a diversified funding base and, where appropriate, enhancing relationships with investors who hold, or are potential holders of, New Zealand government securities and with financial intermediaries and the international credit rating agencies.

The NZDM website can be found at https://debtmanagement.treasury.govt.nz