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Report on the Management of Canada’s Official International Reserves 2003


Table of Contents

Purpose of the Report

Highlights of 2003

Section I: Overview of the Exchange Fund Account

Section II: Exchange Fund Account Operations in 2003

Annex 1: Foreign Exchange Market Intervention

Annex 2: Investment and Credit Guidelines for the EFA

Annex 3: Canada’s Official International Reserves

Annex 4: Glossary

Financial Statements