BUSINESS

Canada's net foreign debt down $4.8 billion in Q4; now at $288.6B: StatsCan

03/14/2013 08:47 EDT | Updated 05/14/2013 05:12 EDT
OTTAWA - Statistics Canada says the country's net foreign debt fell $4.8 billion to $288.6 billion at the end of the fourth quarter.

The agency says the drop reflects the effect of a weaker Canadian dollar on international assets and liabilities as well as lower inflows of funds from abroad in the quarter.

Canada's net foreign debt has generally trended upward since the second quarter of 2007 and now stands $11.7 billion higher than at the end of 2011.

However, Statistics Canada says it remains below its post-recession peak of $300.3 billion

Canada's international assets were up $79.4 billion at $2.375 trillion at the end of the fourth quarter.

Meanwhile, the country's international liabilities also rose — by $74.6 billion — to $2.663 trillion.

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