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Ottawa's Parliament Hill, where the Carney government is rolling out Canada's largest fiscal stimulus package since 1980. / Photo: Unsplash. MoneySavings.ca  ·  Economy & Policy Monday, April 13, 2026  ·  Daily Edition Canada at a crossroads: oil shock, frozen rates, and a trade deal on the clock Canada's economy is navigating a uniquely complicated moment in 2026. A Middle East conflict has sent oil prices surging past US$104 a barrel, a once-in-a-generation fiscal stimulus package is being rolled out in Ottawa, and the clock is ticking on a renegotiation of Canada's most important trade agreement. For everyday Canadians, this means uncertainty at the gas pump, a central bank with limited room to cut rates, and a federal government betting big on public spending to kick-start growth. Here is what you need to know about the forces shaping the Canadian economy right now. 1. The Bank of Canada is stuck — and oil is why The Bank of Canada has held it...
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Pakistan Leads Regional Push to Reopen Hormuz Amid Iran Conflict

Foreign Ministers Badr Abdelatty of Egypt, Prince Faisal bin Farhan Al Saud of Saudi Arabia, Ishaq Dar of Pakistan and Hakan Fidan of Turkey meet to discuss regional de-escalation.

Pakistan has emerged as a central diplomatic hub as it hosts foreign ministers from Turkey, Egypt, and Saudi Arabia for high‑stakes talks aimed at easing the Iran conflict and reopening the vital Strait of Hormuz.

Regional Diplomacy Intensifies in Islamabad

Pakistan convened the meeting in Islamabad as part of its effort to broker an end to the Iran war and stabilize global energy routes. The discussions focused heavily on proposals to reopen the Strait of Hormuz—one of the world’s most critical maritime corridors for oil and LNG shipments. 

Key Points

  • Foreign ministers from Turkey, Egypt, and Saudi Arabia arrived in Islamabad for the talks.
  • Proposals were floated to Washington to restore shipping through Hormuz, including ideas modeled on Suez Canal–style fee structures. 
  • A potential consortium involving Turkey, Egypt, and Saudi Arabia—possibly including Pakistan—was discussed to manage oil flows through the strait. 
  • Pakistan leveraged its ties with both Tehran and Washington, positioning itself as a key mediator. 

Why Hormuz Matters

The Strait of Hormuz previously carried about one‑fifth of global oil and LNG supplies, but Iran has halted shipping in response to U.S. and Israeli airstrikes. The resulting disruption has pushed global oil prices higher and heightened geopolitical tensions.

Outlook

While the talks are still in early stages, the involvement of major regional powers and Pakistan’s active mediation signal a growing push for de‑escalation. Ensuring safe maritime passage is seen as a crucial confidence‑building step toward broader negotiations.


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