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1 in 4 Canadians Can Only Afford the Minimum Payment on Their Credit Card

  Published August 24, 2026 · Canadian Money Brief A new survey from Equifax Canada puts a hard number on something a lot of us have felt creeping up all year: credit cards are doing more of the heavy lifting in Canadian budgets, and fewer people are paying them off. Of more than 1,500 Canadians surveyed, a quarter said they expect to make only the minimum monthly payment on their credit card, and another 7% think they'll fall behind entirely. That leaves just over half — 56% — who expect to pay their balance in full each month. The survey also found that 40% of respondents are spending more overall than they were a year ago, more than double the 18% who say they're spending less. Nearly 3 in 10 said they're leaning more heavily on credit cards to cover essentials like groceries and utilities, and close to a quarter are dipping into savings to keep up with everyday costs. More than a third have cut back on contributions to savings, investments, or education funds to make ro...
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Carney Joins G20 Leaders in Johannesburg as Bloc Moves Forward Without U.S.

PM Carney in Johannesburg as G20 members agree to release a declaration without U.S.


Prime Minister Mark Carney arrived in Johannesburg, South Africa, for the historic G20 summit, the first ever held on African soil. The gathering has been overshadowed by a U.S. boycott, yet leaders from across the globe have agreed to move ahead with a joint declaration, signaling a determination to maintain unity despite Washington’s absence.

South African officials confirmed that the declaration will address pressing global challenges, including inclusive economic growth, climate change, food systems, and clean energy. Carney participated in sessions focused on reforming financing for development in the morning, followed by discussions on sustainability in the afternoon. The declaration, adopted unanimously by the remaining members, is being hailed as a symbolic victory for Africa’s growing role in global governance.

Carney also held bilateral meetings with leaders from France, Jamaica, Norway, Germany, the U.K., the European Union, and the World Trade Organization, underscoring Canada’s commitment to multilateral cooperation. On the sidelines, he and French President Emmanuel Macron discussed the conflicts in Ukraine and Gaza, reaffirming support for Kyiv and stressing the need for stability in the Middle East.

The U.S. boycott, reportedly driven by disagreements over language in the declaration, has highlighted tensions between Washington and other G20 members. South African President Cyril Ramaphosa’s government emphasized that the statement “cannot be renegotiated,” reflecting a firm stance against U.S. pressure.

For Canada, Carney’s presence marks a significant moment in foreign policy, as Ottawa seeks to strengthen ties with African nations and support global initiatives on critical minerals, AI for sustainable development, and wildfire prevention. The summit’s outcome suggests that the G20 is willing to chart a course forward, even without U.S. participation, reinforcing the bloc’s resilience in addressing shared challenges.


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