Canada Announces Contributions to IMF to Help Safeguard Global Economic Stability

Hey Canadians….keep slaving away or Wake UP!

Canada Announces Contributions to IMF to Help Safeguard Global Economic Stability

October 8, 2016 – Washington, D.C. – Department of Finance Canada

Canada is committed to contributing to a stable global economy that benefits the middle class and those working hard to join it.

Finance Minister Bill Morneau today concluded his participation in the 2016 Annual Meetings of the International Monetary Fund (IMF) and World Bank Group by announcing Canada’s contribution to two global financing initiatives. Along with contributions from other countries:

  • Canada will extend a temporary line of credit of approximately C$15 billion to the IMF to help maintain its ability to lend to countries in the event of a major global economic shock.
  • Canada will also provide repayable loans of approximately C$900 million to the IMF’s Poverty Reduction and Growth Trust, which will help ensure that the world’s poorest countries can adjust to economic shocks and create growth and development that benefit their citizens.

Minister Morneau and his international colleagues discussed ways to tackle global economic challenges and ensure countries and international institutions are equipped to respond to them. The Minister emphasized the importance of open trade and investment as a means of building strong and sustainable global growth and prosperity for the middle class and those working hard to join it.

Quote

“Canada is proud to be at the forefront of global efforts to build a stronger world economy. It is important for all countries to work together and to be open to international trade and investment. This will in turn create prosperity for the middle class and those working hard to join it. Canada’s contributions to the IMF will help ensure it has the resources it needs to be effective in maintaining global economic and financial stability.”

Bill Morneau, Minister of Finance http://www.fin.gc.ca/n16/16-126-eng.asp

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Global Migration Group

Editor:

UN Global Migration Group and its many partners pretend they are trying to help migrants when if fact they and their partners are  the ones who caused the problem in the first place. The goal is to destroy nation states by flooding them with the very migrants the UN and its partners created.

Global Migration Group

One mechanism for IOM’s collaboration with the UN system is the Global Migration Group (GMG), an inter-agency group, meeting at both the working level as well as at the level of heads of agencies. The GMG aims to promote the wider application of all relevant international and regional instruments and norms relating to migration, and the provision of more coherent and stronger leadership to improve the overall effectiveness of the international community’s and United Nation’s policy and operational response to the opportunities and challenges presented by international migration.

The GMG grew out of an existing inter-agency group, the Geneva Migration Group, which was established in April 2003 by the heads of IOM, ILO, OHCHR, UNCTAD, UNHCR and UNODC. In early 2006 membership in the Geneva Migration Group was expanded to include UNDESA, UNDP, UNFPA and the World Bank. The Geneva Migration Group’s Terms of Reference were updated, and it was renamed the “Global Migration Group”. In November 2007 the GMG admitted a further four members – UNESCO, UNICEF, the United Nations Regional Commissions and UNITAR. In 2010, WHO and UN Women were and in 2014 FAO and UNU were admitted as members, bringing the total GMG membership to 18 agencies.

Briefing of United Nations Member States on the activities of the Global Migration Group. (© IOM 2007. Photo: Anke Strauss)

IOM served as Chair of the GMG from July to December 2013, prior to which IOM had served as Chair from January to June 2007. The International Labour Organization (ILO) assumed the chairmanship of the GMG on 1 January 2014 for a full year, following a GMG internal review. The GMG is chaired in 2015 by the World Bank. For a list of previous Chairs and background information on the GMG, click here.

Members

Working Groups

The GMG has three  working groups and two task forces, including:

  • Working Group on Mainstreaming Migration into National Development Strategies, co-chaired by IOM and UNDP
  • Working Group on Data and Research, co-chaired by IOM and UNDESA
  • Working Group on Migration, Human Rights and Gender, co-chaired by OHCHR, UN Women and UNICEF
  • Task Force on Capacity Development, co-convened by IOM and UNITAR
  • Task Force on Migration and Decent Work, co-convened by ILO and IOM

GMG at the IOM Council

IOM invited the GMG to interact with its Member States on the occasion of the IOM Council in 200820092010, and 2013.

Contact

The current GMG Chair can be contacted at supportteam@globalmigrationgroup.org

Global Migration Group