Guidelines for central government debt management 2021

The central government debt increased strongly in 2020 and is expected to continue to increase strongly in 2021 and 2022, to then decrease again in 2023. The increase in the central government debt is judged to be temporary and is therefore no reason to amend the guidelines for central government debt management.

No changes are made in the guidelines decision for 2021 to the steering of management compared with the preceding year. The government green bonds, which the Debt Office has issued, are covered by the general guidelines for the composition and term to maturity of the central government debt.

The composition of the central government debt is to be steered towards:

• Foreign currency debt – the foreign currency exposure is to be unchanged.
• Inflation-linked krona debt – is to be 20 per cent of the central government debt in the long term.
• Nominal krona debt – is to make up the remaining share of the central government debt.
• The term to maturity (in terms of duration) of the central government debt is to be steered towards 3.5–6 years.