Deputy Prime Minister to attend Spring Meetings of the IMF and the World Bank in Washington, D.C.
April 19, 2022 - Ottawa, Ontario - Department of Finance Canada
This week, the Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, will travel to Washington to participate in the Spring Meetings of the International Monetary Fund (IMF) and World Bank. The Minister of International Development, the Honourable Harjit Sajjan, will represent Canada at the IMF-World Bank Development Committee plenary.
Throughout the week, the Deputy Prime Minister will join her international counterparts to discuss the global economic outlook and international policy response to Russia’s illegal invasion of Ukraine, and its impact on global food prices, inflation, and energy supply. By working with international partners to alleviate global supply chain pressures, combat inflation, and ensure stable energy supplies, Canada will continue its work to ensure a strong economic recovery that makes life more affordable and leaves no one behind.
The Deputy Prime Minister will call for further financial and economic support for Ukraine. Canada strongly supports the recent US$1.4 billion IMF emergency loan for Ukraine, the maximum allowed under current IMF policy. The Deputy Prime Minister will also highlight the creation of the new IMF Multi-donor Administered Account for Ukraine, and encourage other IMF members to pledge their contributions. This new facility will assist Ukraine in meeting its balance of payments and budgetary needs in order to help stabilize Ukraine’s economy. Canada intends to offer up to $1 billion in new loan resources to Ukraine through the Administered Account.
The Deputy Prime Minister will also hold bilateral meetings with Denys Shmyhal, the Prime Minister of Ukraine, and Serhii Marchenko, the Minister of Finance of Ukraine, on the margins of the Spring Meetings.
“Russia’s brutal and illegal invasion of Ukraine presents a serious threat to the international rules-based order and to Canada’s own national interests. In order to benefit from this rules-based order, countries must respect the rules. That’s why Canada will continue to work with its allies to pressure Putin’s brutal regime. We remain unwavering in our support for Ukraine and its people.”
-The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance
“Canada remains deeply concerned about the growing humanitarian and refugee crisis in Ukraine, as well as the resulting broader impact we’re seeing on global food prices, inflation, and energy supply. International financial institutions, like the World Bank, play a critical role in the global response. That is why Canada is taking action across the multilateral system, in coordination with likeminded partners, to respond swiftly and comprehensively to the many challenges the world is now facing.”
- The Honourable Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada
- International Monetary Fund and World Bank Group Spring Meetings
- Statement by the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance for Canada, on behalf of Antigua and Barbuda, The Bahamas, Barbados, Belize, Canada, Dominica, Grenada, Ireland, Jamaica, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines
- G7 Finance Ministers and Central Bank Governors' Statement on Russia's war of aggression against Ukraine
- Statement by Chrystia Freeland, Deputy Prime Minister and Minister of Finance, Canada to the 105th Meeting of the Development Committee
Media may contact:
Office of the Deputy Prime Minister and Minister of Finance
Department of Finance Canada
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