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Jesse Kline: Carney gets a little help from his international banking friends

An IMF economist insists Canada's doing great, but its own data pours cold water on that claim

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As the Liberals prepare to table their economic update next week, Prime Minister Mark Carney’s banker buddies are stepping in to defend his government’s high-spending ways.

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Speaking to Bloomberg News last week, Nigel Chalk, director of the International Monetary Fund’s Western Hemisphere department, said that among the G7 economies, “Canada’s probably in the strongest position fiscally,” and lauded the Carney government’s “very strong focus on the debt path.”

Jesse Kline: Carney gets a little help from his international banking friends Back to video

He further argued that because Canada’s net debt-to-GDP ratio is relatively low compared to its G7 peers, Ottawa has fiscal room to manoeuvre, and that, “In the current circumstances, if you have fiscal space, it’s the time to use it.”

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