Canada: 2021 Article IV Consultation-Press Release and Staff Report
IMF Staff Country Reports, March 18, 2021
Source details
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- Canada: 2021 Article IV Consultation-Press Release and Staff Report
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Bibliographic details
- Published: March 18, 2021
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513574264.002
Economic impact and trajectory
- The Canadian economy was operating at close to capacity when the COVID-19 pandemic hit.
- Economic and social restrictions put in place in March 2020 helped mitigate the first wave of the virus but "came at a significant cost."
- There was an unprecedented decline in activity in the first half of 2020.
- A strong rebound occurred in the third quarter of 2020 as virus-related restrictions were eased.
- With the onset of the second wave of the virus in late September 2020 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.
Policy context and buffers
- Canada had strong policy buffers at the onset of the pandemic.
- Subject tags emphasize policy areas: Central bank policy rate, COVID-19, Fiscal stance, Income, Public debt.
- Keywords highlighted in the report include: CR, ISCR, policy support, staff appraisal, supply bottleneck, vaccine dose, vaccine rollout.
Publication metadata and scope
- Pages: 79
- Volume: 2021
- Issue: 054
- Series: Country Report No. 2021/054
- DOI: https://doi.org/10.5089/9781513574264.002
- Stock No: 1CANEA2021001
- ISBN: 9781513574264
- ISSN: 1934-7685
International Monetary Fund. Western Hemisphere Dept. "Canada: 2021 Article IV Consultation-Press Release and Staff Report", IMF Staff Country Reports 2021, 054 (2021).
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- 1canea2021001