TORONTO—When the International Monetary Fund issued its latest review of the Canadian economy, Finance Minister Bill Morneau was quick to send out a gushing press release declaring “International Monetary Fund confirms Canada delivering growth that works for everyone." He could have just as easily sent out a press release declaring “International Monetary Fund warns that Canada faces huge challenges with loss of competitiveness, poor productivity performance, vulnerability due to high household debt and slowing growth prospects.” While the
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