IMF sees Canada's fiscal position as strongest in G7

Hope PP holds the status quo

And people still say Carney, the experienced bank man, is bad for the economy. 🙄 His critics need to wake up and smell the morning coffee.

Thanks Trudeau! Seriously though, this is after 1 year. Let Carney keep cooking. Keep electing capable, honest professionals, Canada!

Well, we definitely have the right man at the helm, so hopefully he can continue this trend.

There are many pundits out there who throw around different numbers about the debt of Canada and will say it is terrible. Because they do not know of what they speak. They just repeat what they heard elsewhere and the wilder the value the happier they are to use it for their own gain. Canada is also a bit harder to peg down because it is a true confederation of sub units and they can issue their own debt. Even some cities issue public debt. And then there are also crown corporations - legal entities for which some level of government own most or all the shares, and some of them issue debt as well. There are other countries where some state/provincial/city level entities issue debt but few operate as independently as say Ontario, Quebec, Alberta and other provinces. Many claims aggregate all of these and the sum of them is fairly significant. The supposition is that in the end the federal government of Canada is responsible for all the other debt. But it is not. The federal government of Canada has very, very low net debt. Its gross debt is about 40% of GDP. It is almost all denominated in Canadian dollars, and 75% of it is owed to Canadians. So Canada is not subject to the whims of external forces in debt management. Furthemore the Canadian government holds very substantial cash & kind assets. Such as the well known Canada Pension Plan, one of the worlds largest investment entities. Subtract all those assets and the net debt is about 14%. But even that is somewhat meaningless. Canada is filthy, stinking, f****** rich. Why? Because of the value of all the assets it "owns" but are sitting idle and yet to be utilized. Every physical resource one can imagine Canada has it coming out of its ears: petroleum, mineral resources, timber and more - the value is in the trillions if not tens of trillions. Canada is spending money right now and running a deficit. But it is a country which has run surpluses in the pass, and it could levy a variety of small tax increases here and there and without much effort substantially alter it's short term fiscal position. All the aforementioned is why Canada has a Triple A credit rating, the only "large" population (25+ million) besides Germany to have such. And it is in zero danger of losing that credit rating. The country has huge maneuvering room in context of managing its fiscal position. Now some may not like all the decisions past governments have made fiscally. But now it has a true economist who has been deep in the trenches of financial warfare leading it - and its people are confidant about that leadership even though they are beset by a neighbour who is doing everything he can to subjugate Canada so he can grab that wealth for his own. Canada just finished its fiscal period March 31 (it is not a calendar yr fiscal period) and it already has published its Operating Statement, which in my cursory review I think was actually improved versus prior years. But that is just operations and we need the Annual Financial Report for clarity on all aspects of federal financial position. Given it's neighbour it is not going to be cookies and ice cream for Canada in the near future. An antagonistic neighbour 9x your size next door in a very uncertain world is not a recipe for short term jubilation. The challenge to Prime Minister Carney and the people of Canada is to stick handle through the shit to get to the other side of the bridge. It will be an interesting crossing.

Someone check on Andrew Scheer, he's probably injecting milk through an IV

Carney be that typa guy that says, "all my hommies gotta eat" during interviews

PP: I don't think Carney or the IMF understand finance as well as I do. I mean I never studied it or had a job, but I probably know better

I wish people understood this more. Lutnick was being a d*** again today, and I could only think, when you get your credit rating in order, let us know.

Don't tell that to the canadian conservatives group. They can't handle the truth.

Cool stuff but that means nothing to average Canadians who are being gouged and scraping by when it comes to food, fuel, and housing. Sure doesn't feel like we're fiscally strong.

That’s fantastic news for the macroeconomic spreadsheets. Meanwhile, actual Canadians are out here fighting for their lives just to afford basic groceries and rent. The disconnect is wild.

How can it be? Canada isn’t hot. America is so hot right now. 🤦

Imho that's only an indicator how bad everyone's fiscal position is.

On paper we enjoy the best quality of life on earth. In reality I can barely afford to pay my bills. But at least we have strong fiscal position

I've been saying for years that the liberals are centrist, the cons are crazy far right and the ndp is solid left. Carney is finally acting like it.

Actually if you read it, what it says is that canada has more room to borrow money than other countries which means they can try to spend their way out of the recession/slowdown. Which is great because that's always worked so well in the past. 🙄🙄🙄🙄🙄

Wasn't there a recent report saying the youth in Canada is ranked 71st in happiness?

Can't wait to see what he can do with a majority.

GDP per capita still falling

This is about our federal governments fiscal capacity. Canadas provinces borrow as well and they are not very responsible parties (although I’m not sure the feds are either considering the fact the 43% figure uses canadas pension plans assets against the debt )

Debt to gdp ratio is only a part of the whole picture.

1.2T debt to 2.5T GDP.

Will read later

Fairly insulated from energy shocks. Biggest issue comes exclusively from finding different markets besides their southern one. Makes sense.

Karma

Well having unlimited resources does help

Why do I feel like that's somehow bad for individual Canadians.

Canada has always had this. It's potential is just now being directed and unlocked. Should be interesting to see how this majority and era play out. I hate politicians, but Carney has something special to do here and I don't think he's going to pass it up. Just my opinion obviously.  

IMF still handing out debt traps?

Canada is exporting oil, and yet when a conflict breaks out in the Middle East we as consumers have to pay world prices for fuel here. Lessons to be learned yet.

How's our inflation compared to the rest of the G7...

This summer we the small, should see some returns on these efforts I hope.

that's bad

Amazing considering our PM is so poorly educated on economics

That's comparing Canada to the G7. Not the rest of the world, where in many cases we are very much behind.

If you don't owe substantial debt issued in foreign currency, you have very little reason for the IMF or the World Bank to have you on their radar at all, basically.

Net debt to GDP is misleading. It deducts assets such as the CPP from debt. The government can’t use the CPP to pay down debt, it’s there to support retirees, so it’s meaningless to deduct it from the debt. If you use gross debt to gdp Canada is up there with the US in terms of debt, well over 100%

That is completely detached from the reality Canadians are living in. Record food bank usage, homelessness up, youth unemployment at record highs, wage to housing costs ratio is absurd and making Canadians miserable. I don't know what numbers they are using to determine that but it is not aligned with the reality Canadians are living.

That means we’re cooked, here come the private public abundance papers that lead working pple & poor pple into further misery & austerity.

How bad are the rest doing

Now will Pollivere stfu?? /s

Delete this post.

All the conservatives had to do was have some policies that actually helped people, that’s it. Leaning on culture war bullshit and being opposed to everything just cuz the other team did it isn’t what people want in Canada. We aren’t American, we don’t want that style of politics here. He are kind, and deep down want to help all our countrymen, not just those that are ‘like’ us. As long as the conservatives keep playing politics like a win lose game they will not turn around their party.

Reversing the massive shit show left by Trudeau Jr

Numbers say different

The best of the G7 is still very bad "The trouble with normal is that it always gets worse"

Im sorry he hasnt done shit, and PP would also have done shit. Has life gotten any better in the last 30 years? No,

I bought brookfields stock 2 weeks ago . Bn.to, bam.to.. GO CARNEY GO !!!!