The Medium-term Debt Management Strategy (MTDS) lays down the Government's debt financing plans for the next four years; i.e., during the period 2013 — 2016. The key objective in the strategy is to ensure that the Government's financing needs and payment obligations are met at the lowest possible cost over the medium to long term, consistent with a prudent degree of risk, and to promote the maintenance and further development of efficient primary and secondary markets for domestic Government securities.