A bond (broadly fixed-income securities) that is issued by a government to borrow money from the public in order to finance its projects and initiatives, such as infrastructure spending. Such bonds make several periodic interest payments over the contractual term, as well as a repay the initial value borrowed (principal amount), at the maturity of the bond. Government bonds, particularly those issued by creditworthy governments, are generally safe (safest amongst fixed income securities). This is mainly due to a government ability  to print money (thanks to its control over currency issue), and therefore can pay back the money it has borrowed under most circumstances.

Virtually, governments can never be forced to default (unless under server economic conditions), or fail to pay back the bond and other instrument it has issued.

Government bonds are also sovereign bonds.