The New Zealand Debt Management Office (NZDMO)'s funding programme for 2013/14 has been reduced – by NZ$2 billion (US$1.7 billion), to NZ$8 billion – following New Zealand's half-year economic and fiscal update (HYEFU). The funding update, which was published on December 17, reaffirms the NZDMO's commitment to issuing up to NZ$5 billion of its current-year requirement in the form of inflation-indexed bonds (IIBs).