English to reassure world lenders

Finance Minister Bill English will outline the Government's plan for economic recovery to international lenders during visits to Tokyo, New York and Boston next week.

He said today the aim was to assure them the Government had a realistic plan to control debt, lift growth and rebalance the economy towards greater investment and exports.

The Treasury has forecast the Government will have to borrow about $40 billion over the next four years to fund budget deficits.

"Governments all over the world are going to the market to borrow large sums to support their economies," English said.

"To secure the funds we need to make sure we are out there telling our story."

He said he would remind investors that New Zealander's economic fundamentals were sound, the Government's debt was relatively low and the country was well positioned to come out of the recession ahead of comparable nations.

English and officials from the Debt Management Office will meet representatives from major financial institutions in all three cities.

NZPA