Bloomberg News

IMF Says Canada Can Slow Pace of Fiscal Tightening

April 17, 2012

Canada’s finances are more sound than the U.S. and the country has room to slow the pace of fiscal tightening if the global economy worsens, the International Monetary Fund said.

The Washington-based lender, in its World Economic Outlook report, also called Canada’s housing market an area of “potential vulnerability.”

The IMF raised its growth estimate for Canada’s economy to 2.1 percent for this year and 2.2 percent in 2013. In January, the IMF projected 2012 growth of 1.7 percent and 2 percent for 2013.

To contact the reporter on this story: Theophilos Argitis in Ottawa at targitis@bloomberg.net

To contact the editor responsible for this story: Chris Wellisz at cwellisz@bloomberg.net


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