Canada: 2021 Article IV Consultation-Press Release and Staff Report

March 18, 2021

Preview Citation

Format: Chicago

Canada: 2021 Article IV Consultation-Press Release and Staff Report, (USA: International Monetary Fund, 2021) accessed December 21, 2024

Summary

The Canadian economy was operating at close to capacity and had strong policy buffers when the COVID-19 pandemic hit. Economic and social restrictions put in place in March 2020 helped to mitigate the first wave of the virus, but they came at a significant cost. There was an unprecedented decline in activity in the first half of 2020, followed by a strong rebound in the third quarter as virus-related restrictions were eased. With the onset of the second wave of the virus in late September sparking renewed restrictions across the country, the recovery has slowed. Looking ahead, the strength and durability of the recovery hinges on the evolution of the pandemic.

Subject: Central bank policy rate, COVID-19, Fiscal stance, Income, Public debt

Keywords: CR, ISCR, Policy support, Staff appraisal, Supply bottleneck, Vaccine dose, Vaccine rollout

Publication Details

Pages:

79
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2021/054
Stock No:

1CANEA2021001
ISBN:

9781513574264
ISSN:

1934-7685

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