Canada makes shrewd move - pay down debt with budget surpluss from last year
Sophia Dow
Sep. 25, 2006

Canada made a shrewd move. It plans to pay down debt with budget surpluss from last year.

$12 Billion debt payment from budget surpluss - is it time to go north of the border?

Who knows? Canada is an oil, gas and mineral rich nation with its currency getting stronger and unlike US it has a budget surpluss.

The economy in Canada is doing better these days with good balance of payments, improving trade numbers and above all little dependency on imported oil and gas.

The canadian debt will come down to approximately $400 billion US Dollar. Canada will be making largest debt repayment in the history - and all of that comes from budget surpluss.

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