Section 8—Foreign exchange accounts

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Foreign exchange accounts

Foreign exchange accounts represent financial claims and obligations of the Government as a result of Canada's foreign exchange operations. Financial claims and obligations denominated in foreign currencies are reported at Canadian dollar equivalents at March 31. Investment income from the foreign exchange accounts and net gains and losses resulting from the translation of the net assets denominated in foreign currencies, to Canadian dollar equivalents as at March 31, are recorded in foreign exchange net revenues on the Consolidated Statement of Operations and Accumulated Deficit.

Table 8.1 presents the continuity of each foreign exchange account, by showing the opening and closing balances, as well as payments and other charges and receipts and other credits. It should be noted, however, that this table excludes unmatured debt payable in foreign currencies, amounting to $17,609 million as at March 31, 2017 ($22,482 million as at March 31, 2016); details relating to these obligations are presented in Section 6 of this volume. A narrative description is provided for accounts reported in some tables. Such descriptions follow the same presentation order as their respective tables.

Table 8.1
Foreign exchange accounts

(in dollars)

  April 1, 2016 Payments and other charges Receipts and other credits March 31, 2017
International reserves held in the Exchange Fund Account, Table 8.2 101,379,461,151 33,747,137,140 28,459,022,027 106,667,576,264
International Monetary Fund—Subscriptions 20,169,658,158 277,361,325 19,892,296,833
International Monetary Fund—Loans 1,278,000,517 152,913,472 1,125,087,045
Subtotal 122,827,119,826 33,747,137,140 28,889,296,824 127,684,960,142
International Monetary Fund—Notes payable 18,332,452,000 510,452,000 260,200,000 18,082,200,000
Special drawing rights allocations 10,955,971,544 150,660,103 10,805,311,441
Subtotal 29,288,423,544 661,112,103 260,200,000 28,887,511,441
Total 93,538,696,282 34,408,249,243 29,149,496,824 98,797,448,701

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