Finance  Minister Joe Oliver will attend the Annual Meetings of the International  Monetary Fund (IMF) and World Bank Group this week in Washington D.C., where he  will also meet with his Group of 20 (G-20) Minister of Finance colleagues.

The  meetings will focus on the state of the global economy as well as strategic  priorities for the IMF and World Bank Group. G-20 Finance Ministers and Central  Bank Governors will discuss deliverables ahead of the G-20 Leaders Summit in  Brisbane next month, including measures to support greater investment in  infrastructure, particularly by the private sector.

Minister  Oliver will encourage countries to follow Canada’s example of responsible  fiscal management, which will result in a return to balanced budgets in 2015, and  to implement structural measures that strengthen the economy and create jobs,  as outlined in the G-20 growth strategies. Canada has weathered the global  economic crisis better than most countries and stands out among the G-20 as an  international economic success story and an attractive partner for trade and  investment.

Quick Facts

Canada’s Economic Performance

• The  Canadian economy has posted one of the strongest job creation records in the G-7  over the recovery, with more than 1.1 million jobs created since July 2009.
• Real  gross domestic product (GDP) is significantly above pre-recession levels—the  best performance in the G-7.
• Both  the IMF and the Organisation for Economic Co-operation and Development expect  Canada to be among the strongest growing economies in the G-7 over this year  and next.
• In  2013, Canada leapt from sixth to second place in Bloomberg’s ranking of the  most attractive destinations for business.
• Four  credit rating agencies—Moody’s Investors Service, Fitch Ratings, Standard &  Poor’s and DBRS—have all reaffirmed their top ratings for Canada.

International Organizations

• The  G-20 is the premier forum for international economic cooperation, with members  accounting for 85% of global output and two-thirds of the world’s population.
• Earlier  this year, G-20 Finance Ministers and Central Bank Governors committed to  develop ambitious, but realistic, policies aimed at lifting the level of G-20  collective GDP over five years by at least 2% above the level implied by existing  policies.
• As  a significant shareholder, Canada has an important governance role at both the  IMF and the World Bank Group. The Minister of Finance represents Canada, most  Commonwealth Caribbean countries  and Ireland on the Board of Governors at both institutions.

Quotes

"Our Government's sound economic management and unrelenting focus on jobs, growth and long-term prosperity have made Canada an international economic success story. As Canada is doing with its Economic Action Plan, we encourage G-20 countries to deliver on their comprehensive strategies to create jobs and a strong, global economy."

- Joe Oliver, Minister of Finance

 src:news.gc.ca