A look at federal child-care deals signed with jurisdictions across Canada
Ontario has signed a child-care agreement with the federal government, making it the last jurisdiction to sign onto a national plan to bring $10-a-day child care to every province and territory by 2026. Here's a look at the deals signed across the country: BRITISH COLUMBIA The province reached an agreement last year that stipulates Ottawa will work with B.C. to reach an average of $10-per-day child care in regulated spaces for children under six before 2027. The deal aims to create 30,000 new spaces in B.C. over a five-year period, with fees for regulated spaces cut in half by the end of 2022. B.C.
© Dalati and Nohra aid plan, AFP Lebanese Prime Minister Najib Mikati (right) meeting Ernesto Ramirez-Rigo, head of a IMF Delegation on March 30, 2022.
The International Monetary Fund announced Thursday to be reached an agreement in principle with Beirut for a $ 3 billion aid plan over four years. The Lebanese authorities "agreed to undertake several essential reforms before the meeting of the IMF's Board of Directors, to which the program granted to the country of cedar will be submitted.
The International Monetary Fund (IMF) announced, Thursday, April 7, to have reached an agreement in principle with the Lebanese authorities for a three billion dollar aid plan over four years, while the country of cedar crosses the Worst economic crisis of its history .
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The program granted to Lebanon under the expanded credit mechanism is subject to the IMF management approval and its board of directors, has specified the institution in a statement. "And the Lebanese authorities have agreed to undertake several essential reforms before the IMF Board Meeting," added the Fund.
An IMF delegation had initiated a new mission in Lebanon at the end of March with the hope of reaching a preliminary agreement on a program of assistance for the country struck by an unprecedented economic crisis.
The expanded credit mechanism "aims to support the authorities' reform strategy to restore growth and financial sustainability, strengthen governance, transparency and increase social spending and reconstruction," said the Fund.
Michael Taube: Liberal-NDP deal heralds the era of state overlordship
Finance Minister Chrystia Freeland will table the annual federal budget on April 7. While it’s no secret that Prime Minister Justin Trudeau’s Liberal government will continue its reckless trend of wasting the taxpayers’ money, it could end up being a spending spree like no other. The Liberal-NDP agreement would earn the lion’s share of blame for this. On March 23, Canada’s two major left-leaning parties announced they would be working together on “confidence and budgetary matters” until June 2025.
A dramatic economic contraction and a sharp increase in poverty
The IMF nevertheless reminds that this program should be supplemented by the restructuring of the Lebanese external debt with the objective of incorporating the creditors in order to restore the viability of the debt.
"Lebanon is confronted with an unprecedented crisis, which has led to a dramatic economic contraction and a sharp increase in poverty, unemployment and emigration," Ernesto Ramirez Rigo, the IMF head of mission, to the outcome of the visit that ended Thursday.
About 80% of the Lebanese population are plunged into poverty.
The IMF Head pointed out that this crisis is "a manifestation of deep and persistent vulnerabilities generated by many years of non-viable macroeconomic policies that fueled significant deficits". He also noted that the authorities had supported an overvalued exchange rate and that the financial sector was overdimensioned.
Finally, he noted "serious problems of responsibility and transparency".
as many issues that the Lebanese authorities will have to answer.
In addition, the crisis was aggravated by the Pandemic of Covid-19 and the explosion of the Port of Beirut in August 2020, and more recently by the war in Ukraine, main provider of wheat from several countries of the Middle East.
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