Canada and the International Monetary Fund
The International Monetary Fund (IMF) was established in 1945, towards the end of World War II. The IMF aims to support its membership through the provision of policy advice to governments and central banks, research and analysis of economies and markets of all sizes, loans to enable countries to overcome economic difficulties and poverty, and technical assistance and training to help countries improve their economic management.
Canada has been a member of the IMF since 1945. The IMF consists of 188 countries, of which Canada is the eight-largest contributor, after the six other G-7 countries and Saudi Arabia.
In 2012, Canada established a technical assistance sub-account at the IMF that supports technical assistance to developing country governments to build their capacity to address public debt, balance of payment problems and financial sector crises. Canada’s support has catalyzed IMF technical assistance and training in Tunisia, Morocco and the Caribbean including Suriname, and Haiti. In 2014, Canada provided significant financial support to the IMF for technical assistance to help Ukraine stabilize and rebuild its economy.
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