The International Monetary Fund (IMF) recently posted a blog about corruption and COVID-19

 (see link:

So far, the IMF has provided US $25 billion to 70 countries to help them prevent the spread of COVID-19. As part of this funding, the IMF has required improved governance and accountability of their funds. Although corruption is typically seen as an issue that developing nations face, COVID-19 has shown that it is alive and well in developed nations as well. Despite Canadian and US governments setting up toll free “snitch lines” asking people to report abuse of government emergency funding aid programs, many companies and individuals have still inappropriately taken advantage of these programs.

For example, in the U.S., companies have returned US$30 billion in loans that were meant to help small businesses, not public companies that have access to public markets.

So far in Canada, there has not been any public disclosure of the misuse of government aid.

It seems that some individuals and companies have mistaken government emergency aid as “free money” and have failed to realize that today’s government debt is tomorrow’s taxes – which we all pay for through higher individual and corporate taxes.

Anil Tahiliani, MBA, CFA
Vice President, Portfolio Manager

Download PDF



Founded in 2006 to manage and service seven family offices, today Matco offers the benefits of our extensive investment management experience to individual investors, foundations, endowments, condominium corporations, trusts, corporations and not-for-profit organizations.

Our mission is to simplify the investment world for our clients by understanding their needs and providing exceptional investment solutions that preserve and grow capital.

Matco Financial is an independent, privately held discretionary investment counsellor and asset management firm that serves the needs of individual investors, institutions, advisors, trusts, corporations and not-for-profit organizations. Matco provides investment advisory services to investors on a discretionary basis through mutual funds and separately managed accounts. This communication is intended for information purposes only and does not constitute an offer or solicitation by anyone in any jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Matco Financial Inc. makes no representations as to the accuracy or any other aspect of information contained in other websites. All statements that look forward in time or include anything other than historical information are subject to risks and uncertainties and are not guarantees of future performance. Investors should not rely on forward looking statements. Actual results, actions or events, could differ materially from those set forth in the forward looking statements.

For more information please visit
Copyright © *2016* Matco Financial Inc., All rights reserved.
Our mailing address is: 350, 440 – 2nd Ave SW,
Calgary, Alberta T2P 5E9
Phone: 403.539.5740
Fax: 403.539.5744
Confident woman holding mobile phone

Get Matco
Market Insights

delivered to your inbox once a month