Australia Treasury Reversed Course on Debt Office to Call Review

Australia’s Treasury initially opted to set aside complaints about the nation’s sovereign debt manager before reversing course weeks later to order an independent review, documents released Friday under a Freedom of Information Act request showed.

An internal submission to Treasury Secretary Jenny Wilkinson in November showed the Treasury “does not intend to take further action at this point in time” after examining concerns about the Australian Office of Financial Management, which oversees nearly A$1 trillion ($716 billion) in government borrowing.