Borrowing Agreement with the Government of Canada

June 10, 2009

Preview Citation

Format: Chicago

Borrowing Agreement with the Government of Canada, (USA: International Monetary Fund, 0) accessed December 22, 2024

Summary

This paper presents for the approval of the Executive Board a draft borrowing agreement between the Government of Canada and the Fund. The Government of Canada announced its willingness to lend up to $10 billion to the Fund to support the Fund’s ability to provide timely and effective balance of payments assistance to its members in the context of the summit of the Leaders of the Group of Twenty (G-20) in early April. Staff and the Canadian authorities have now reached agreement on a draft borrowing agreement, the text of which is set forth in the Attachment (the “Agreement”). The Agreement would make an important contribution to the multilateral effort to ensure the adequacy of the Fund’s financial resources, adding to the resources already available to the Fund from the borrowing agreements with Japan and Norges Bank that were approved by the Board recently. It is also expected that borrowing agreements with other members will be proposed for Board approval soon.

Subject: Borrowing agreements, Borrowing by Fund, Canada, Executive Board decisions, Fund general resources, Guidelines for borrowing by Fund, Lapse of time approval

Publication Details

Pages:

---
Volume:

---
DOI:

---
Issue:

---
Series:

Policy Papers
Stock No:

---
ISBN:

---
ISSN:

---

FACTSHEETS

RESOURCES

TOPICS

Flagship Publications

Other Publications

IMF reports and publications by country

Regional Offices

All News

See Also

For Journalists

Press Center

RESOURCES

FLAGSHIPS

KEY SERIES

IMF NOTES

Policy Papers