The representatives of the Group of Creditors of Ukraine (GCU) and the Government of Ukraine signed on December 21, 2023 an Amendment to the Memorandum of Understanding (MoU) on Debt Service Suspension of Ukraine concluded on September 14, 2022. This Amendment extends the Debt Service Suspension until the end of March 2027, corresponding to the end of the current IMF program. It aims at implementing the first phase of the financing assurances provided by the GCU on March 24, 2023 to support the approval of the program by the IMF Executive Board of Directors.
Today, the Government of Canada is providing an update on federal support for Canada’s innovation ecosystem, with a focus on improving existing programs that support Canadian businesses.
Earlier today, the Office of the Superintendent of Financial Institutions (OSFI) announced that it is maintaining at its current level the minimum qualifying rate for uninsured mortgages. This rate came into effect on June 1, 2021, and was last reaffirmed on December 15, 2022.
At my instruction on June 14, 2023, the Government of Canada immediately halted all government-led activity at the Asian Infrastructure Investment Bank (AIIB). This urgent step was taken after serious concerns were raised about the AIIB by a former employee.
To keep pace with the rapid development and growth of the crypto-asset market and to ensure that recent gains in global tax transparency will not be gradually eroded, we welcome the new international standard on automatic exchange of information between tax authorities developed by the Organisation for Economic Co-operation and Development (OECD) – the Crypto-Asset Reporting Framework (CARF). The widespread, consistent and timely implementation of the CARF will further improve our ability to ensure tax compliance and clamp down on tax evasion, which reduces public revenues and increases the burden on those who pay their taxes.
The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, today issued the following statement after a meeting of provincial and territorial Finance Ministers regarding the Government of Alberta’s proposal to withdraw from the Canada Pension Plan (CPP):
Over the past twenty years, CPP Investments has grown the CPP’s assets from $36 billion to more than $570 billion, of which about $380 billion was generated from investment income. In fact, between 2013 and 2022, CPP Investments delivered the highest ten-year returns of any pension fund in the world.
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.
