IMF downgrading prospects for Canada
Posted Sep 20, 2011 10:56:56 AM.
This article is more than 5 years old.
The International Monetary Fund figures Canada’s economy isn’t as promising as what the Bank of Canada is predicting.
The IMF said Canada’s economy will remain positive but this year’s growth rate will be 2.1 per cent, but will fall to 1.9 per cent next year, down from previous forecasts.
In addition, the IMF projects Canada’s unemployment rate will rise.
The IMF is not predicting a global recession but it is warning that risks of a downturn have dramatically worsened due to Europe’s sovereign debt crisis.
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