The International Monetary Fund (IMF) warned of “substantial” cooling in Canada in a report released earlier this week, and said “shocks could easily push the economy into a mild recession.”
The warning comes as the agency on Tuesday cut its global growth forecast for 2023, amid cooling pressures from the war in Ukraine, high energy and food prices, inflation, and sharply higher interest rates.
Canada’s Deputy Prime Minister Chrystia Freeland, meanwhile, spent the week in Washington, D.C., attending meetings of the IMF and World Bank (WB), where she joined in discussions about how to protect the global economy.
Eric Sorensen reports on Freeland’s plan to strengthen Canada’s ties with like-minded nations.
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