Posted by: mulrickillion | November 1, 2011

Press Release: IMF Mission to Canada concludes Article IV Consultation and Releases Preliminary Report

Press Release No. 11/385
October 31, 2011

An International Monetary Fund (IMF) mission visited Canada from October 11–24 to conduct the country’s annual Article IV consultation. At the conclusion of the mission, Mr. Gian Maria Milesi-Ferretti, chief of the North America division of the Western Hemisphere Department, issued the following statement in Toronto:

“After a strong recovery from the crisis, growth in Canada is moderating. Thanks to a decisive policy response, a resilient financial sector, and high commodity prices, the economy expanded well above its potential growth rate in 2010. The Fund’s baseline medium-term outlook is broadly favorable, with growth at about 2 percent on average for 2011 and 2012. But risks are tilted to the downside given the challenging external environment: weak demand in trading partners, a strong Canadian dollar, and fiscal retrenchment. . . .

Press Release: IMF Mission to Canada concludes Article IV Consultation and Releases Preliminary Report

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