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International Monetary Fund report warns of Canada’s high debt levels

Oct 11, 2017 | 11:30 AM

The International Monetary Fund warns in a new report about Canada’s high debt levels and higher-than-average pressure on Canadian households’ ability to pay down that debt.

The IMF says in its Global Financial Stability report released Wednesday that these dynamics in Canada’s private non-financial sector leaves its economy more sensitive to tighter financial conditions and weaker economic activity.

Canada was named along with Australia, Brazil, China and Korea as countries where the debt-service ratio has risen to high levels.

The IMF also says there was a particularly strong need in these economies for financial sector policy to guard against letting these imbalances grow any further.