Canada will be spared worst of economic downturn: IMF

Finance Minister Jim Flaherty said the IMF report supports the $400-billion stimulus package outlined in the government’s Jan. 27 budget, which is still to receive final parliamentary approval, and emphasizes the need to get the stimulus spending into the economy. Photograph by: Chris Wattie, Reuters OTTAWA — Canada is better placed than most countries to weather the global recession due of a “strong fiscal package” and healthy financial sector, the International Monetary Funds said in a report Wednesday. “With the global outlook marked by unusually high uncertainty, Canada has prudently taken…

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