Inflation in September was 3.8 per cent—down from 4 per cent in August. The decline in headline inflation was broad-based, including on the price of food.
Today, in Washington, D.C., the Deputy Prime Minister and Minister of Finance, Chrystia Freeland, co-chaired a productive meeting of the joint Canada-U.S. Energy Transformation Task Force, with the Senior Advisor to the President for Energy and Investment, Amos J. Hochstein. They were joined by the Minister of Energy and Natural Resources, Jonathan Wilkinson. This meeting was an opportunity to further shared work to create good jobs, build an economy that works for the middle class, and fight climate change.
Yesterday, the Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, concluded a visit to Marrakech, Morocco for meetings of G7 and G20 Finance Ministers and the Annual Meetings of the International Monetary Fund (IMF) and World Bank.
Our constituency wishes to express our heartfelt sympathy and deepest condolences to the people of Morocco and Libya in the aftermath of the terrible earthquake and flood of September 2023.
We remain firmly committed to supporting Ukraine for as long as it takes. Canada championed the creation of the IMF’s Administered Account for Ukraine, which has raised approximately C$6.8 billion from Canada, Germany, the Netherlands, and Belgium to help the Government of Ukraine continue to deliver essential services and restore critical infrastructure.
Since the establishment of the price cap policy, the Coalition has closely monitored markets—including price trends and volumes exported by Russia to ensure that the price cap continues to function as intended. Russian oil tax revenue was down 45% from January-August this year, relative to 2022. Given recent price movements, the Coalition is focusing on supporting compliance and enforcement of the policy.
We, the G7 Finance Ministers and Central Bank Governors, met in Marrakech, joined by the Heads of the International Monetary Fund (IMF), World Bank Group (WBG), Organization for Economic Cooperation and Development (OECD), and Financial Stability Board (FSB). We were honored to be joined by the Ukrainian Finance Minister Sergii Marchenko.
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.
Ms. Cindy Chao has extensive experience leading and advising on organizational sustainability and climate change strategies across multiple sectors globally, including mining, financial services, and consumer business.