From the Australian Office of Financial Management (AOFM), 30 March 2012:
Typical weekly borrowings?
Around $2 billion.
With any luck, the government will just make it to the May budget before hitting the debt ceiling.
So you can be certain that, just like last year, there will be a little piece of legislation quietly slipped into the May budget, to raise the debt ceiling.
For the fourth time in five years.
Looks like I was right:
2 November 2011 – “Australia On Target To Hit Debt Ceiling By Mid-2012”
13 March 2012 – “Australia Debt Ceiling Hit By June”
Oh yes … did I forget to mention that on latest RBA figures, around 84% of our debt is owed to “non-residents”?
Thanks to Kelly in comments who correctly notes that the title should read “$17.15″ billion till credit transaction declined, as the actual amount issued subject to the Commonwealth Inscribed Stock Act 1911 is $232.85 billion, as noted in the fine print in the last line of the screenshot above. Of course, this begs the question “what kind of debt instrument have they issued to the value of $4.59 billion, that is not subject to the Act”? My first guess would be bonds used to finance the NBN, which I seem to recall reading will be listed Off Balance Sheet in the Budget (to achieve that “surplus”, you see).