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Halifax Initiative
The Halifax Initiative is a coalition of Canadian non-governmental organizations for public interest work and education on international financial institutions. Canadian non-governmental organizations formed the Halifax Initiative in December 1994 to ensure that demands for fundamental reform of the international financial institutions (namely the World Bank and the International Monetary Fund MF would be high on the agenda of the upcoming June 1995 Group of 7 meeting in Halifax. The Halifax Initiative is a coalition of development, environment, faith-based, human rights and labour groups. Members of the Halifax Initiative Coalition # Canadian Conference of Catholic Bishops, Social Affairs Office # Canadian Council for International Co-operation # Canadian Friends of Burma # Canadian Labour Congress # Canadian Auto Workers, Canada Social Justice Fund # Development and Peace (Canadian Catholic Organization) # Falls Brook Centre # KAIROS: Canadian Ecumenical Justice Initiative ...
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Canada
Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by total area. Its southern and western border with the United States, stretching , is the world's longest binational land border. Canada's capital is Ottawa, and its three largest metropolitan areas are Toronto, Montreal, and Vancouver. Indigenous peoples have continuously inhabited what is now Canada for thousands of years. Beginning in the 16th century, British and French expeditions explored and later settled along the Atlantic coast. As a consequence of various armed conflicts, France ceded nearly all of its colonies in North America in 1763. In 1867, with the union of three British North American colonies through Confederation, Canada was formed as a federal dominion of four provinces. This began an accretion of provinces an ...
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Bretton Woods System
The Bretton Woods system of monetary management established the rules for commercial and financial relations among the United States, Canada, Western European countries, Australia, and Japan after the 1944 Bretton Woods Agreement. The Bretton Woods system was the first example of a fully negotiated monetary order intended to govern monetary relations among independent states. The Bretton Woods system required countries to guarantee convertibility of their currencies into U.S. dollars to within 1% of fixed parity rates, with the dollar convertible to gold bullion for foreign governments and central banks at US$35 per troy ounce of fine gold (or 0.88867 gram fine gold per dollar). It also envisioned greater cooperation among countries in order to prevent future competitive devaluations, and thus established the International Monetary Fund (IMF) to monitor exchange rates and lend reserve currencies to nations with balance of payments deficits. Preparing to rebuild the interna ...
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Lorne Nystrom
Lorne Edmund Nystrom, (born April 26, 1946) is a Canadian politician and was a member of the House of Commons of Canada from 1968 to 1993 and again from 1997 to 2004. He is a member of the New Democratic Party. Nystrom has been a prominent figure in the New Democratic Party for most of his career. Parliamentary career Born in Wynyard, Saskatchewan, he was first elected for Yorkton—Melville in 1968. At the age of 22 years and three months, he was the youngest MP in Canadian history, a record he held until Claude-André Lachance was elected at the age of 20 in 1974. He was reelected without serious difficulty until losing to Reform challenger Garry Breitkreuz in 1993. He returned to Parliament in 1997 in the riding of Qu'Appelle, succeeding fellow New Democrat Simon De Jong. Nystrom faced a strong challenge for re-election in the riding, renamed Regina—Qu'Appelle in 2000, after the Progressive Conservatives unexpectedly failed to nominate a candidate. However, Nystrom ma ...
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New Democratic Party Of Canada
The New Democratic Party (NDP; french: Nouveau Parti démocratique, NPD) is a federal political party in Canada. Widely described as social democratic,The party is widely described as social democratic: * * * * * * * * * * * * the party occupies the left, to centre-left on the political spectrum, sitting to the left of the Liberal Party. The party was founded in 1961 by the Co-operative Commonwealth Federation (CCF) and the Canadian Labour Congress (CLC). The federal and provincial (or territorial) level NDPs are more integrated than other political parties in Canada, and have shared membership (except for the New Democratic Party of Quebec). The NDP has never won the largest share of seats at the federal level and thus has never formed government. From 2011 to 2015, it formed the Official Opposition, but apart from that, it has been the third or fourth-largest party in the House of Commons. However, the party has held considerable influence during periods of Lib ...
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House Of Commons Of Canada
The House of Commons of Canada (french: Chambre des communes du Canada) is the lower house of the Parliament of Canada. Together with the Crown and the Senate of Canada, they comprise the bicameral legislature of Canada. The House of Commons is a democratically elected body whose members are known as members of Parliament (MPs). There have been 338 MPs since the most recent electoral district redistribution for the 2015 federal election, which saw the addition of 30 seats. Members are elected by simple plurality ("first-past-the-post" system) in each of the country's electoral districts, which are colloquially known as ''ridings''. MPs may hold office until Parliament is dissolved and serve for constitutionally limited terms of up to five years after an election. Historically, however, terms have ended before their expiry and the sitting government has typically dissolved parliament within four years of an election according to a long-standing convention. In any case, an ac ...
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Tobin Tax
A Tobin tax was originally defined as a tax on all spot conversions of one currency into another. It was suggested by James Tobin, an economist who won the Nobel Memorial Prize in Economic Sciences. Tobin's tax was originally intended to penalize short-term financial round-trip excursions into another currency. By the late 1990s, the term Tobin tax was being applied to all forms of short term transaction taxation, whether across currencies or not. The concept of the Tobin tax is being picked up by various tax proposals currently being discussed, amongst them the European Union Financial Transaction Tax as well as the Robin Hood tax. Tobin's original proposal Tobin suggested his currency transaction tax in 1972 in his Janeway Lectures at Princeton, shortly after the Bretton Woods system of monetary management ended in 1971. Prior to 1971, one of the chief features of the Bretton Woods system was an obligation for each country to adopt a monetary policy that maintained the e ...
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G-20
The G20 or Group of Twenty is an intergovernmental forum comprising 19 countries and the European Union (EU). It works to address major issues related to the global economy, such as international financial stability, climate change mitigation, and sustainable development. The G20 is composed of most of the world's largest economies, including both industrialised and developing nations; it accounts for around 80% of gross world product (GWP), 75% of international trade, two-thirds of the global population, and 60% of the world's land area. The G20 was founded in 1999 in response to several world economic crises. Since 2008, it has convened at least once a year, with summits involving each member's head of government or state, finance minister, or foreign minister, and other high-ranking officials; the EU is represented by the European Commission and the European Central Bank. Other countries, international organizations, and nongovernmental organizations are invited to atte ...
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Global Financial System
The global financial system is the worldwide framework of legal agreements, institutions, and both formal and informal economic actors that together facilitate international flows of financial capital for purposes of investment and trade financing. Since emerging in the late 19th century during the first modern wave of economic globalization, its evolution is marked by the establishment of central banks, multilateral treaties, and intergovernmental organizations aimed at improving the transparency, regulation, and effectiveness of international markets. In the late 1800s, world migration and communication technology facilitated unprecedented growth in international trade and investment. At the onset of World War I, trade contracted as foreign exchange markets became paralyzed by money market illiquidity. Countries sought to defend against external shocks with protectionist policies and trade virtually halted by 1933, worsening the effects of the global Great Depression until a ...
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Independent Evaluation Office
The Independent Evaluation Office is an autonomous body established in 2001 to conduct independent evaluations of policies and activities of the International Monetary Fund. See also * The World Bank Group's Independent Evaluation Group The Independent Evaluation Group (IEG) is an independent unit within the World Bank Group (WBG) charged with objectively evaluating the activities of the International Bank for Reconstruction and Development (IBRD) and International Development ... External linksIEO Home International Monetary Fund Ombudsman organizations {{International-org-stub ...
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Montreal Gazette
The ''Montreal Gazette'', formerly titled ''The Gazette'', is the only English-language daily newspaper published in Montreal, Quebec, Canada. Three other daily English-language newspapers shuttered at various times during the second half of the 20th century. It is one of the French-speaking province's last two English-language dailies; the other is the ''Sherbrooke Record'', which serves the anglophone community in Sherbrooke and the Eastern Townships southeast of Montreal. Founded in 1778 by Fleury Mesplet, ''The Gazette'' is Quebec's oldest daily newspaper and Canada's oldest daily newspaper still in publication. The oldest newspaper overall is the English-language ''Quebec Chronicle-Telegraph'', which was established in 1764 and is published weekly. History Fleury Mesplet founded a French-language weekly newspaper called ''La Gazette du commerce et littéraire, pour la ville et district de Montréal'' on June 3, 1778. It was the first entirely French-language newspaper i ...
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The Ottawa Citizen
The ''Ottawa Citizen'' is an English-language daily newspaper owned by Postmedia Network in Ottawa, Ontario, Canada. History Established as ''The Bytown Packet'' in 1845 by William Harris, it was renamed the ''Citizen'' in 1851. The newspaper's original motto, which has recently been returned to the editorial page, was ''Fair play and Day-Light''. The paper has been through a number of owners. In 1846, Harris sold the paper to John Bell and Henry J. Friel. Robert Bell bought the paper in 1849. In 1877, Charles Herbert Mackintosh, the editor under Robert Bell, became publisher. In 1879, it became one of several papers owned by the Southam family. It remained under Southam until the chain was purchased by Conrad Black's Hollinger Inc. In 2000, Black sold most of his Canadian holdings, including the flagship National Post to CanWest Global. The editorial view of the ''Citizen'' has varied with its ownership, taking a reform, anti-Tory position under Harris and a conserv ...
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Debt Relief
Debt relief or debt cancellation is the partial or total forgiveness of debt, or the slowing or stopping of debt growth, owed by individuals, corporations, or nations. From antiquity through the 19th century, it refers to domestic debts, in particular agricultural debts and freeing of debt slaves. In World War I the United States Treasury made large loans to the allies that were postponed, reduced and finally paid off in 1953. In the late 20th century, it came to refer primarily to Third World debt, which started exploding with the Latin American debt crisis (Mexico 1983, etc.). In the early 21st century, it is of increased applicability to individuals in developed countries, due to credit bubbles and housing bubbles. International debt relief First World War reparations War debt payments by World War I Allies to the U.S. had been suspended in 1931—only Finland paid in full—and American public opinion demanded repayments resume as a condition of U.S. postwar aid. Germany had ...
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