Canada’s credit profile is supported by its large, well-developed, export-oriented, diverse economy. The country’s robust institutions have effectively demonstrated their ability to respond to shocks with careful policymaking. The resilience of Canada's economy is reinforced by its independent central bank, which maintains transparent and effective monetary policies. Canada’s external position is robust supported by its net international creditor status. These strengths are partly offset by slowing growth and the relatively high level of gross general government debt.