Canada hikes borrowing limits of its territories

Thu Mar 15, 2012 1:06pm EDT
 
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OTTAWA (Reuters) - Canada has boosted the maximum amount of money that the governments of its three northern territories can borrow, Finance Minister Jim Flaherty said on Thursday.

The Northwest Territories' borrowing limit was boosted to C$800 million ($808 million) from C$575 million; Yukon's to C$400 million from C$300 million; and Nunavut's to C$400 million from C$200 million.

The limits apply to the total borrowing of the territorial governments at any time.

($1=$0.99 Canadian)

(Reporting by Randall Palmer; Editing by Peter Galloway)