The International Monetary Fund warns that Canada's green subsidies could stoke an international race to the bottom, even as it credits the country for a 'multipronged' approach to addressing climate change.
The International Monetary Fund warns that Canada's green subsidies could stoke an international race to the bottom, even as it credits the country for a "multipronged" approach to addressing climate change.
The IMF applauded Canada's climate action, including its carbon-pricing regime and 2023 federal budget investments in the green economy. The preliminary report comes as the Liberal government makes historic investments in the green economy and is enticing automakers such as Stellantis and Volkswagen with billions of dollars in subsidies.
"While Canada's public debt is relatively low in international comparison, it remains substantially above pre-pandemic levels," the report says.
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