My poor Mother has spent this week in hospital and came home to find a pile of mail including a letter from the New Zealand Debt Management Office. Having never heard of them she felt a bit alarmed as she opened the envelope and found it was an tax certificate to include in her IRD return for Government Bonds she has invested in.
It turns out that the Debt in question is the Government’s.
The New Zealand Debt Management Office (NZDMO) was established in 1988 with the aim of improving the management of risk associated with the government’s debt portfolio. It is responsible for managing the government’s debt, overall net cash flows, and some of its interest-bearing assets within an appropriate risk management framework.
They’ve been around since 1988 so I’m surprised she hasn’t dealt with them before but I’m even more surprised that in the 80’s when all the Government departments were getting glossy new “feel good” names they didn’t do the same. Then again ’88 was a year after the stock market crash so maybe the tolerance for such games had ended 🙂
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