Adopted guidelines for government debt management 2026

News 13 November 2025

Today, the Government adopted new guidelines for managing Sweden’s central government debt. This means no changes to the guidelines regarding the central government debt’s composition and term to maturity.

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 guidelines for next year also clarify how the management of central government debt should be evaluated.

The Government's decision entails that the central government debt will continue to be managed based on the following targets:

• Phasing out foreign currency debt (i.e. foreign currency exposure), with a target value of zero from 1 January 2027.
• Successively reducing inflation-linked krona debt to a target level of around SEK 80 billion by the end of 2029.
• Nominal krona debt constituting the remainder of national debt, after inflation-linked krona debt and foreign currency debt.
• Steering the maturity (in terms of average time to refixing) of the central government debt towards 3.5 to 6 years.

Guidelines for central government debt management in 2026 - Government.se

Report: Central government debt management – Proposed guidelines 2026 - Riksgälden.se