Within the last few weeks, our friendly neighbors to the north have cut their debt burden almost in half—according to the CIA. As of Feb. 12, 2006, the CIA World Factbook said Canada’s public debt was 68.2% of GDP, and it stayed that way until very recently; then, by April 15, that number had changed to 38.7%. If you’re interested in the before and after screenshots, enlarge the thumbnails below.
Thanks to John Bulmer for alerting me to this development.
As a result, next time I update the International Debt Thermometer, Canada will drop below the UK—because the CIA World Factbook is the data source for the first of those two graphics. The second graphic will stay the same, because my other source for international debt levels, the OECD, shows no update to Canada’s net or gross debt level.
Why the number changed is still a mystery. I asked the CIA—but I don’t anticipate an answer any time soon. Reason: I’ve submitted questions several times over the past year, using this web form at their site, but the only response I’ve ever received was this one:
Thanks for your email.<br><br>We have forwarded your request to the World Factbook Staff. Due to their limited resources, they may be unable to respond. However, please know your email will be read and given consideration by the World Factbook Staff.<br><br>Regards,<br><br>Molly
