Saudi Arabia : Financial System Stability Assessment
Author/Editor:
International Monetary Fund. Monetary and Capital Markets Department
Publication Date:
October 5, 2017
Electronic Access:
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Summary:
The FSAP took place during the aftermath of a major shock for the Saudi economy, whose repercussions were still being felt despite a decisive policy response. During 2015–16, the decline in oil prices led to a sharp fall in oil revenues. Government spending was cut and payments to some suppliers were delayed, adding to the contractionary effects on the economy. Combined with sharply increased domestic government borrowing, these developments contributed to a tightening in banking system liquidity. SAMA injected liquidity and relaxed the prudential ratio on banks’ lending to deposits. These measures were effective and, by end-2016, as government arrears were being repaid, the situation in the banking system had started to normalize.
Series:
Country Report No. 17/318
English
Publication Date:
October 5, 2017
ISBN/ISSN:
9781484323458/1934-7685
Stock No:
1SAUEA2017003
Price:
$18.00 (Academic Rate:$18.00)
Format:
Paper
Pages:
36