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Characteristics of the Foreign Currency Debt
At the end of the 2006, the foreign currency debt of the Government was about $32.4 billion, equal to 25% of the total government debt. Besides its relatively low share in the total debt, the foreign currency debt is characterized by the following: Large share of bonds issued by the Israel Bonds Organization and US Government-guaranteed bonds in the total foreign currency debt - 31% of the total foreign currency debt was raised by the Israel Bonds organization, through its worldwide corporations, on a retail basis. Another 45% of the Israeli Government's foreign currency loans are guaranteed by the US Government. The Government obtains favorable terms on these loans relative to other foreign currency funding channels. This, together with the high availability of these sources, underpins the Government's financial stability. Composition of the Foreign Currency Debt by Sources (December 2006)  Foreign Currency Debt Redemption Forecast (July 2007)  Dominance of US dollar denominated debt - At the end of December 2006, the share of US dollar-denominated debt in the Israeli Government's foreign currency debt was 88%. This high share is attributable to the US Government guaranteed debt and the US investors' dominance in the purchase of Israeli Government bonds. In recent years, the Accountant General has been making efforts to further diversify the currency denomination of the government debt. Distribution of the Foreign Currency Debt by Currency Denomination (December 2006)  
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