This combination creates two additional headwinds for Canadian exports: softer US exports will mean lower demand for Canadian components of those US exports; and Canada will lose more competitiveness in the US market compared with exporters from other countries. With respect to our export forecast, today we are publishing two new staff discussion papers on our modelling of exports.
If creditors can be encouraged to stay put and to negotiate a solution in an orderly fashion, it would be in their collective interest as well as that of the whole international community. But how can this best be accomplished?