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Ottawa, August 10, 2004
2004-043
Minister of Finance Releases 2003 Report on the Management of Canada’s Official International Reserves
Related document:
Minister of Finance Ralph Goodale today released the 2003 Report on the Management of Canada’s Official International Reserves, which provides details of the investments and performance of the Government’s Exchange Fund Account (EFA).
“The Exchange Fund Account is an important source of funds for the Government and enables us to support an orderly market for the Canadian dollar,” said Minister Goodale. “While we will table this report in Parliament once it resumes sitting, publishing it now ensures greater timeliness and transparency for Canadians,” he added, pointing out that the dissolution of Parliament prevented the report from being tabled before the customary May 31 deadline.
Total official reserves were more than US$36 billion at year-end 2003, and were held in the form of foreign currency securities, deposits with commercial financial institutions, gold, special drawing rights and Canada’s International Monetary Fund reserve position. The EFA is financed by foreign currency borrowings by the Government.
The publication may be viewed free of charge on the Department of Finance Web site.
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For further information:
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Andrée Houde |
Pat Breton |
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| Last Updated: 2004-08-10 |
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