Charest reiterates call for loonie conference
Last Updated: Monday, November 19, 2007 | 4:05 PM ET
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Premier Jean Charest has again asked Prime Minister Stephen Harper for a first ministers conference to discuss the loonie's recent rise in value against the American dollar.
The loonie's wild ride beyond parity with the greenback is an urgent situation, Charest told the Montreal Board of Trade on Monday.
Quebec exports are harder to sell south of the border, he said. Some prices have risen as much as 60 per cent — and the trend is having a cumulative effect.
"Jobs are being affected, and decisions are not being made because people in the manufacturing sector are trying to figure out where this dollar is going to land," said the premier.
Now is the time for the federal government to deliver on a promise it made in its throne speech to help struggling manufacturers and forestry workers, Charest said.
The currency declined 0.70 of a cent to 101.99 cents US on Monday, down from Friday's close of 102.69.
It has been declining since it hit a record high of just over $1.10 US earlier this month.
Provincial finance ministers plan to meet Dec. 11 to talk about the loonie.
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