The IMF, as Trustee of the Poverty Reduction and Growth Trust (PRGT or Trust), has entered into a new borrowing agreement with the Government of Canada (Canada), and has entered into amendments to the 2010 borrowing agreement with De Nederlandsche Bank NV (The Netherlands) and the 2011 borrowing...

The staff report on Canada’s 2009 Article IV Consultation examines economic developments and policies. Canadian banks have weathered the crisis better than major-country peers, but the credit cycle will be challenging, particularly given high household debt. Financial instability is a tail...

This Selected Issues paper on Canada examines economic development and policies. Capital ratios before the crisis have been a key determinant of bank performance during the turmoil; and Canadian banks had ample capital. Specifically, most banks with critically low capital at end-2006 later...

This paper presents two new borrowing agreements for the Poverty Reduction and Growth Trust (PRGT). These two agreements with the IMF, acting as Trustee for the PRGT, and the Government of Canada and the People's Bank of China respectively have been finalized as part of the resource mobilization...

The global crisis has underscored the need for effective global financial safety nets to protect countries with sound policy frameworks from adverse outcomes. Complementing the traditional crisis resolution role of the IMF, which has been instrumental during the recent crisis and is expected to...

This paper presents for the approval of the Executive Board a draft borrowing agreement between the Government of Canada and the Fund. The Government of Canada announced its willingness to lend up to USD 10 billion to the Fund to support the Fund's ability to provide timely and effective balance...

In March 2009, the Fund established a new Framework Administered Account to administer external financial resources for Selected Fund Activities (the 'SFA Instrument'). The financing of activities under the terms of the SFA Instrument is implemented through the establishment and operation of...

Canada’s muted productivity growth during recent years has sparked concerns about the country’s investment climate. In this study, we develop a new natural language processing (NPL) based indicator, mining the richness of Twitter (now X) accounts to measure trends in the public perceptions...

The Canadian economy appears to have achieved a soft landing: inflation has come down almost to target, while a recession has been avoided, with GDP growth cushioned by surging immigration even as per capita income has shrunk. Housing unaffordability has risen to levels not seen in a generation,...

This paper presents empirical estimates of the policy and structural determinants of the natural rate of unemployment in Canada. The paper begins with a discussion of structural features of the economy which impinge on the adjustment of real wages to their equilibrium level. Estimates are...