Canada: 2025 Article IV Consultation-Press Release; and Staff Report
IMF Staff Country Reports, January 21, 2026
Source details
- Canonical URL
- Canada: 2025 Article IV Consultation-Press Release; and Staff Report
Other formats
Bibliographic details
- Published: January 21, 2026
- Series: IMF Staff Country Reports
- Volume: 2026
- Pages: 74
- DOI: https://doi.org/10.5089/9798229035897.002
Summary and context
- Canada is adjusting to the largest shift in North American trade policy since NAFTA.
- The economy has been more resilient than initially feared, supported by USMCA exemptions, resilient consumption, and policy cushioning.
- Elevated trade uncertainty has weighed on exports, investment, and confidence, reinforcing long-standing weaknesses in productivity and competitiveness.
Major findings
- Trade policy shift: Characterized as the largest shift in North American trade policy since NAFTA.
- Resilience drivers:
- USMCA exemptions.
- Resilient consumption.
- Policy cushioning.
- Adverse impacts:
- Elevated trade uncertainty has weighed on exports, investment, and confidence.
- Long-standing weaknesses in productivity and competitiveness have been reinforced.
Subjects and keywords (as listed)
- Subjects: Financial sector policy and analysis, Financial sector stability, Production, Productivity, Public debt, Tariffs, Taxes
- Keywords: article IV consultation, Financial sector stability, Fund relation, Global, IMF team, IMF's article, MCM FSAP mission chief, North America, Productivity, Tariffs
Content in this bundle
- 1canea2026001