Tag Archives: reserve

Loonie poised to join elite group of global reserve currencies

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Canada’s triple-A credit rating, stable economy and resource riches have made the loonie increasingly enticing to foreign central banks.

Now the International Monetary Fund appears poised for the first time to include the Canadian dollar in an elite group of global reserve currencies.

The IMF quietly endorsed a staff report this month that recommends that both the Canadian and Australian dollars “be considered for inclusion” in the short list of currencies that it tracks in a quarterly report on central bank reserves.

Read more:  http://tinyurl.com/cxl62r9

Does Canada Need a Strategic Petroleum Reserve?

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It was only a little over a month ago that the world, as well as most Canadians, discovered that Canada was host to the world’s strategic maple-syrup reserve. The confounding theft of $30 million worth of maple-syrup led The Atlantic to expound upon the rationale for this largely unknown government-sanctioned enterprise. In sum, the need to assure that supply of the product will meet its demand is at the crux of the foundational logic. This rationale is similar to that which has spawned the creation of strategic petroleum reserves (SPR) the world over. Yet Canada is a nation without a SPR, and petroleum, unlike maple-syrup, lacks a viable substitute in the event of a significant shortage.

Read more: http://tinyurl.com/8g6rwm6