It is regrettable that the deadline for entry into force of the 2010 quota and governance reforms, which sought to enhance the voice and representation of emerging and developing countries was missed, but this should not prevent the Fund from operating according to the new paradigm which an overwhelming majority of members have already endorsed as the way forward.
Well, bearing in mind that we start our analysis with a projection that Canada’s economic potential is likely to grow by only around 1.5 per cent, which is not very inspiring, we need to take every decimal point of potential growth more seriously than we have in the past. Now, none of the structural initiatives I’ve mentioned is a silver bullet by itself.