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©2001 International Monetary Fund
April 2001
IMF Country Report No. 01/62
Canada: 2001 Article IV Consulatation—Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion
Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. In the context of the 2001 Article IV Consultation with Canada the following documents have been released and are included in this package:
the staff report for the 2001 Article IV Consultation, prepared by a Staff team of the IMF, following discussions that ended on January 19, 2001, with the Officials of Canada on economic developments and policies.Based on information available at the time of these discussions, the staff report was completed on March 1,2001. The views expressed in the staff report are those of the Staff team and do not necessarily reflect the Views of the Executive Board of the IMF.
a staff statement of March 23, 2001 updating information on recent economic developments.
a Public Information Notice(PIN), which summarizes the views of the Executive Board as expressed during its March 23, 2001 discussion of the staff report that concluded the Article IV Consultation.
The documents listed below have been or will be seperately released.
Mission Concluding Statement
Selected Issues paper
The policy of publication of staff reports and other documents by the IMF allows for the deletion of the market-sensitive information.
To assist the IMF in evaluating the publication policy, reader comments are invited and may be sent by e-mail to Publicationpolicy@imf.org.
Copies of this report are available to the public from
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International Monetary Fund
Washington, D.C.
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INTERNATIONAL MONETARY FUND
CANADA
Staff Report for the 2001 Article IV Consultation
prepared by Staff Representatives for the 2001 Consultation with Canada
Approved by Claudio M. Loser and G.Russell Kincaid
March 1, 2001
Contents
I. Introduction
II. Economic Developments and Outlook
A. Recent Economic Developments
B. The Outlook
III. Policy Discussions
A. Monetary Policy and the Exchange Rate
B. Fiscal Policy
C. Other Issues
IV. Staff Appraisal
Tables
1. Selected Economic Indicators
2. Balance of Payments
3. Federal Government Budget, Public Accounts
4. Net Government Debt
5. Indicators of Economic Performance
6. Staff Projections
7. Medium-Term Projections for Federal Government Budget
8. Indicators of Canadian Financial Institutions
9. Official Development Assistance
10. Indicators of External and Financial Vulnerability
Figures
1. Output and Demand
2, Unemployment
3. Employment and Output Gaps
4. Capacity Utilization Ratio
5. Core CPI Inflation
6. International Comparison: Labor Productivity Growth in Business and Manufacturing Sectors
7. International Comparison: Labor Productivity in the Total Economy
8. International Comparison: IT Expenditures
9. Interest Rate Differentials
10. International Comparison: Exchange Rates
11. Bilateral and Real Effective Exchange Rates
12. Federal Fiscal Policy Indicators
13. Federal Government Net Public Debt
14. General Government Net Debt
15. International Comparison: Relative Cost of Capital
16. Personal Sector Net Worth and Household Debt
17. Debt of Nonfinancial Corporations
18. Chartered Banks: Return on Total Shareholders’ Equity
19. International Comparison: Total Support Estimate for Agriculture
20. International Comparison: Producer Support for Supply-Managed Goods
Boxes
1. Main Elements of the Federal Tax Reform
2. Saving and Investment in Canada: An International Perspective
3. Asset Prices in Canada and the United States
4. Reforms to the Canada Pension Plan
5. Disincentives and Employment Insurance
Appendices
I. An Update to the Main Issues and Recommendations of the FSSA
II. Fund Relations
III. Core Statistical Indicators
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Public Information Notice (PIN) No. 01/38
FOR IMMEDIATE RELEASE
April 23, 2001
International Monetary Fund
700 19th Street, NW
Washington, D. C. 20431 USA
On March 23, 2001, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Canada.1
Washington, D.C. 20431 • Telephone 202-623-7100 • Fax 202-623-6772 • www.imf.org
