Deputy Prime Minister to attend G7 and G20 Finance Ministers’ Meetings and Annual Meetings of the IMF and World Bank
News release
October 10, 2023 - Ottawa, Canada - Department of Finance Canada
This week, from October 11 to 13, the Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, will attend meetings of G7 and G20 Finance Ministers and the Annual Meetings of the IMF and World Bank, held this year in Marrakech, Morocco.
At these meetings, the Deputy Prime Minister will focus on how we can build resilient economies and broad-based economic prosperity for people in Canada and around the world. These meetings are a key opportunity for Canada to also discuss the building of clean economies that deliver for working people, securing our essential supply chains with our partners, and ensuring global inflation can continue to fall and prices can stabilize.
On Thursday, October 12, the Deputy Prime Minister will participate in the public IMF Seminar Boosting Growth with Domestic Resources: How to Pay for It All, where she will discuss Canada’s work to build economic growth that delivers prosperity for the middle class, by driving down inequality, raising incomes, and ensuring, by design, not trickle-down, that everyone can share in our nation’s prosperity, all while maintaining both the lowest deficit- and net debt-to-GDP ratios in the G7. Supported by Canada’s growing economy, the government has enhanced Canada’s social safety net, ranging from affordable early learning and child care to the Canada Workers Benefit.
The Deputy Prime Minister, together with Canada’s allies and partners, will also reaffirm our united support for Israel, including its right to defend itself, following the barbaric terrorist attacks perpetrated by Hamas.
As Vladimir Putin continues his assault on Ukraine, the Deputy Prime Minister will also use these meetings to discuss with Canada’s allies and partners the importance of upholding and defending the rules-based international order. This includes continuing our efforts to ensure Russia pays for the long-term reconstruction of Ukraine and exploring all possible legal avenues to aid Ukraine.
An itinerary of events will be released in advance of the meetings.
Quotes
“These meetings are a chance for Canada to meet with our closest allies and partners as we seek to address the challenges affecting people here in Canada and around the world—whether it is by working together to create good-paying jobs, ensuring global inflation can continue to fall and prices can stabilize, or holding Russia to account for Putin’s illegal war.
“Prior to departing for Morocco, I also want to extend Canada’s most sincere condolences to the people of Morocco and Libya following last month’s devastating earthquake and flooding. Canada will continue to stand with you.”
The Honourable Chrystia Freeland,
Deputy Prime Minister and Minister of Finance
Quick facts
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Over one million more Canadians are employed today compared to before the pandemic.
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Supported by the new Canada-wide system of affordable early learning and child care, Canada’s labour force participation rate for women in their prime working years reached a record high of 85.7 per cent in July 2023.
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The IMF projects that Canada will have the strongest economic growth of all G7 countries in 2024, and Canada maintains both the lowest deficit and net debt-to-GDP ratio in the G7.
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On September 8, 2023, DBRS Morningstar confirmed Canada’s credit rating as AAA Stable, which is the same rating as both Moody’s and S&P.
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The Annual Meetings of the IMF and World Bank, which generally take place in October, have customarily been held in Washington for two consecutive years and in another member country in the third year.
Contacts
Media may contact:
Katherine Cuplinskas
Press Secretary and Senior Communications Advisor
Office of the Deputy Prime Minister and Minister of Finance
Katherine.Cuplinskas@fin.gc.ca
Media Relations
Department of Finance Canada
mediare@fin.gc.ca
613-369-4000
General enquiries
Phone: 1-833-712-2292
TTY: 613-369-3230
E-mail: financepublic-financepublique@fin.gc.ca