cover image: Canada : 2021 Article IV Consultation-Press Release and Staff Report

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Canada : 2021 Article IV Consultation-Press Release and Staff Report

18 Mar 2021

The Canadian economy was operating at close to capacity and had strong policy buffers when the COVID-19 pandemic hit. Economic and social restrictions put in place in March 2020 helped to mitigate the first wave of the virus, but they came at a significant cost. There was an unprecedented decline in activity in the first half of 2020, followed by a strong rebound in the third quarter as virus-related restrictions were eased. With the onset of the second wave of the virus in late September sparking renewed restrictions across the country, the recovery has slowed. Looking ahead, the strength and durability of the recovery hinges on the evolution of the pandemic.

Authors

International Monetary Fund. Western Hemisphere Dept.

Format
Paper
Frequency
regular
ISBN
9781513574264
ISSN
1934-7685
Pages
79
Published in
United States of America
Series
Country Report No. 2021/054
StockNumber
1CANEA2021001