“Saudi Arabia’s injection shows that SAMA is committed to support the sector beyond SMEs in this unprecedented crisis. This is likely to boost liquidity at no cost and mitigate part of the pressure on banks from relief repayments or debt restructuring to sectors beyond SMEs.”
-Edmond Christou, a banking analyst at Bloomberg Intelligence, on Saudi Arabia’s decision to invest $13.3 billion in a stimulus package to protect banks as they confront dual challenges of the coronavirus shock and lower oil prices. [bloomberg.com]
