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Fed Govt considers shelving bond market

  1. Fed Govt considers shelving bond market

    The Federal Government is floating the idea of ending the bond market, preferring to repay all the Government's debt through the proceeds of privatisation.

    Treasurer Peter Costello will today launch an options paper on how to manage the Commonwealth's debt market, as it continues its program of retiring debt.

    Mr Costello says $60 billion of a $96 billion debt has been repaid and he wants to raise the issue of whether Australia needs a bond market at all.

    "I want to raise that fairly and squarely, let the financial markets put in their bids and see whether or not they can convince us to keep that bond market," he said.

    "I stress this is not something that's going to happen next week or next month.

    "This is something that we could face in a week or two as our privatisation proceeds."

    http://www.abc.net.au/news/justin/nat/newsnat-30oct2002-42.htm

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