You Know its Bad When…

20 Nov

The IMF considering loonie as reserve currency

The International Monetary Fund said it’s considering classifying the Australian and the Canadian dollars as reserve currencies.

The two “are to be considered for inclusion” separately in the IMF’s “Currency Composition of Official Foreign-Exchange Reserves” data, the Washington-based lender said in a report published on Nov. 14. They’ve previously been included in an “other currencies” category in the COFER reports.

I love my country (Canada), and I think the Harper government has done a great job under the circumstances of keeping our economy from falling off it’s own fiscal cliff – but seriously?

Isn’t this more like being damned with faint praise, than getting an invite to the cool kids’ party?

FP

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