Canada has increased its efforts to fortify its banking sector on Thursday, by offering loan guarantees to mitigate the impending impact of the global financial crisis, which is anticipated to push the country to the brink of recession. This measure aligns with similar multibillion-dollar programs adopted in the United States and Europe, aiming to restore confidence in lending markets after numerous bank failures, primarily linked to investments in distressed U.S. mortgages. Finance Minister Jim Flaherty emphasised the government’s commitment to preserving the competitiveness of Canadian financial institutions in global wholesale markets. Reuters quoted him as saying in a statement, “Th
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