Export Development Canada’s Lack of Cash Threatens Taxpayers

The Crown corporation could be worth up to $30 billion if divested, but it could be worthless if it can’t realize its assets as cash

Export Development Canada president and CEO Benoit Daignault speaks during a business luncheon in Montreal on April 15, 2015. The Canadian Press/Graham Hughes

Export Development Canada (EDC) is unable to convert its reported profits into cash, posing an increasing risk to Canadian taxpayers. And it has been funding ventures that are normally considered too risky for commercial banks to handle.

EDC is a federal Crown corporation that guarantees export financing loans to Canadian corporations. Additionally, it guarantees and finances investments by foreign firms into Canada, which can be controversial.