Finance Minister Siobhan Coady is glad that the province chose to diversify into the European market in light of the current economic turmoil created by U.S. President Donald Trump’s tariffs on global trade.

The provincial government started listing bonds on the London Stock Exchange in March of 2023 in an attempt to lower borrowing costs.

Most of the province’s bonds were previously held in the domestic market, but Coady says they’re leveraging lower borrowing costs by placing bonds in the EU market when it works in their favour.

It’s something she’s glad they did given the current global circumstances.

“Opening up to new investors is a very positive thing” says Coady, “not only do we save money, but it also creates a bit of pressure and demand for our bonds, and that’s a positive thing.” She says they’ll be borrowing money again next year for infrastructure needs “and we’ll look to both the European as well as the Canadian markets to do so….having that opportunity to invest in, or have investors from the European Union certainly allows us to ensure that we’re getting the best rate possible.”