Embassy of Canada in France : New Canadian Lending Agreements With the International Monetary Fund

2016 Bilateral Credit Line

The International Monetary Fund (IMF) works to promote economic growth and safeguard the stability of the international monetary system by supporting its membership through economic surveillance and advice, technical assistance, capacity building, and adjustment lending programs.

The IMF’s total financial resources are composed of both permanent and temporary resources. The largest portion is comprised of the IMF’s permanent resources, or quotas, which form the basis of the institution’s resources and in normal times serve as its primary source of funds for lending. In addition to quotas, the IMF has access to temporary resources in the form of …
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Poloz Says Export Puzzle Prompted Canada Downside Risk Language

(Bloomberg) — Bank of Canada Governor Stephen Poloz said he’s been puzzled by the nation’s export under-performance, and it’s this “lack of understanding” that prompted his central bank to flag downside risks to the nation’s economy.Speaking to reporters in Washington on Saturday, Poloz said the Bank of Canada is looking more closely at the causes of this year’s weakness in exports, which have resulted in slower-than-expected growth. The central bank will have more to say about the issue at its next rate decision Oct. 19, Poloz said.“It’s our lack of understanding frankly that …
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Department of Finance of Canada : Minister Morneau Welcomes New Canadian Executive Directors to International Financial Institutions

October 8, 2016 – Washington, D.C.- Department of Finance Canada

The Government of Canada is rebuilding its international influence to create shared growth and prosperity at home and abroad. One way it is doing so is by ensuring that Canada continues to be represented by high quality Executive Directors on the boards of international financial institutions.

Finance Minister Bill Morneau today welcomed the election of three new Canadian Executive Directors to the International Monetary Fund (IMF), the World Bank Group, and the European Bank for Reconstruction and Development (EBRD):

Nancy Horsman as the new IMF Executive Director for Canada, Ireland, …
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Fort McMurray wildfire: Thanksgiving video acknowledges Canadians for helping when disaster struck

The Thanksgiving holiday is intended to give Canadians a chance to pause and reflect and give thanks and that’s exactly what the Regional Municipality of Wood Buffalo (RMWB) is doing this weekend as it continues to recover from a wildfire disaster earlier this year. Story continues below

On Friday, Wood Buffalo posted a video called Grateful Hearts to its Facebook page to thank Canadians for helping the community recover from May’s catastrophic wildfire that saw about 80,000 people forced to flee Fort McMurray.Aside from the heroic efforts of fire crews in battling the blaze, many Canadians showed their …
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Arizona Governor is big on trade with Canada

In the heat of the U.S. presidential campaign, where international trade and the economy are vital issues for Canadians, one of America’s newest and brightest political stars is touring Canada, promoting trade with Arizona.
Arizona Republican Governor Doug Ducey sat down with me to discuss trade, politics and hockey after a speech to the Canadian Club in Toronto last week.
He’s on a mission to increase investment by Canadians in Arizona and trade between Canada and Arizona.
Given that Republican presidential candidate Donald Trump has called NAFTA a “disaster” and threatened to renegotiate the deal if he …
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Bank of Canada Finds Business Sentiment Improving

OTTAWA-Canadian businesses appear slightly more optimistic about their prospects in the months ahead as conditions are expected to improve for the country’s hard-hit resources sector, the Bank of Canada said Friday.

The central bank’s quarterly business-outlook survey found that firms’ overall investment and hiring intentions have improved, with businesses in resource-related industries starting to see a tapering in investment cuts caused by slumping oil prices. The survey suggests the overall negative view that prevailed through the first half of 2016 may be lifting.

“Many resource-related firms, such as those in oil and gas or mining, sense that activity has hit bottom,” the Bank of Canada said in the survey. “Given the relatively stable commodity prices in recent months, businesses now cautiously believe that sales will no longer fall, or will increase modestly.”

At the same time, expectations for inflation over the next two years edged down, the central bank said, tempering …

Canadian Business Leaders Support Carbon Tax Plans »

by Mike Godfrey, Tax-news.com, Washington
07 October 2016

A group of Canadian business leaders has signed an open letter welcoming the Government’s plan to introduce a floor price on carbon pollution.
The letter, organized by the Smart Prosperity initiative, was signed by 22 business and community leaders. It described a rising carbon price as critical to meeting Canada’s climate commitments, and said the measure will need to form part of an overall approach that includes promoting energy efficiency and clean production.
The letter stated: “Carbon pricing is the most economically effective way to reduce emissions and stimulate clean innovation, which will be critical to Canada’s success in a changing global economy. The proposed Canada-wide approach works with provinces and territories, and allows for regionally tailored paths towards a common goal. By starting slowly and ramping up over five years, it gives businesses and households time to adjust and plan for lowering their …

Canada jobs surge in September, driven by the self-employed

By Leah Schnurr

OTTAWA (Reuters) – Canada added far more jobs than expected in September, mainly because of the biggest increase in self-employed workers in more than seven years, data from Statistics Canada showed on Friday.

Economists did not expect the report, which has been volatile month-to-month, to move the Bank of Canada off the sidelines when it meets later this month. A senior policymaker said on Thursday there was still more slack in the labor market than the unemployment rate would suggest.

After cutting interest rates twice last year to offset the effects of plunging oil prices, the central …
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Japan to sign global climate pact 'as soon as possible' – minister

TOKYO Japan will seek to ratify the 2015 Paris Climate Change Agreement to cut emissions and prevent climate change as soon as possible, after support from European nations sent the accord over an important threshold earlier this week.”We would like to make our best efforts to complete ratification as soon as possible,” Japanese environment minister Koichi Yamamoto told a news conference on Friday, adding the government will submit a ratification bill to parliament as early as Oct. 11.However, approval may take weeks and if Japan misses the Nov. 4 implementation date for the agreement, that could limit its ability to influence …
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Canada Today: Giving Thanks, Canadian Style

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