Adopted guidelines for government debt management in 2025

News 7 November 2024

Today, the Government adopted new guidelines for managing Sweden’s central government debt. The decision for 2025 is consistent with the Swedish National Debt Office’s proposal. This means that the outstanding volume of inflation-linked bonds will be reduced and that the debt’s term to maturity will be measured in a new way.

In the guidelines, the Government sets forth among other things how the central government debt is to be composed and what its term to maturity shall be. The objective is to minimise the cost of the debt over the long term while taking account of risk in the management.

The Government's decision entails that:

  • The Swedish National Debt Office will continue to issue inflation-linked bonds, but the outstanding volume will be reduced. The aim is inflation-linked debt of around SEK 80 billion by the end of 2029.
  • The central government debt term to maturity will be measured in ATR rather than Macauley duration. The term to maturity of 3.5–6 years will be maintained.

The Government’s press release and guidelines

The Debt Office’s proposed guidelines