Finance Minister François-Philippe Champagne says the latest International Monetary Fund (IMF) report offers a rare note of optimism: despite ongoing trade tensions with the United States, the world economy is holding up better than expected.
Speaking from Washington, where he is chairing the G7 finance ministers’ fall meeting and attending the annual IMF and World Bank gatherings, Champagne highlighted the report’s findings. The IMF noted that while global growth remains sluggish, it hasn’t fallen as sharply as earlier forecasts suggested.
Champagne described the report as “encouraging,” urging governments to balance fiscal discipline with strategic investments to support long-term economic growth.
Canada has been among the countries hit hardest by U.S. tariffs imposed under President Donald Trump. Even so, the IMF predicts Canada will be the second-fastest-growing economy in the G7 next year — a sign, Champagne argued, that resilience and sound policy are helping Canada weather the uncertainty.
The Liberal government, led by Prime Minister Mark Carney, is preparing to table its next federal budget on November 4. Carney’s spring election campaign emphasized his fiscal expertise and ability to navigate Canada’s complex trade relationship with Washington — skills that will be tested as trade tensions persist into 2026.