It will be interesting (if you’re a Jacinda supporter), or disconcerting (if you’re not) to see how much these totals increase in the next three years.
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This debt clock article is a bit misleading because we’re not talking about conventional debt here. The interest rates on the Treasury bonds NZ sells to fund it’s debt have fallen so low that some carry a negative interest rate of -0.165%. This means that banks are essentially loaning Treasury free money to cover their debt and in some cases are paying Treasury a small fee for privilege. The reason banks are willing to to this is that NZ Treasury bonds are considered a safe place to keep money (safer than under the mattress). See https://www.interest.co.nz/bonds/106991/treasury-gets-tender-result-inflation-linked-bond-returns-negative-yield-cpi-component
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Thanks Stuart. Will read.
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Another good link: https://www.stuff.co.nz/business/money/300134087/new-zealands-next-finance-minister-faces-a-daunting-challenge
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thanks again… 🙂
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