Kyle Hanniman, »ÆÉ«ÊÓƵ
Canada’s provinces entered the pandemic the most indebted subnational sector in the world. This burden poses few immediate challenges given low interest rates and the Bank of Canada’s recent efforts to support provincial borrowing. That’s good, because the last thing we need is for provinces to slash their deficits during a pandemic. But in the long run, provincial debts need to stabilize. What measures can Canadian governments take to ensure they do?