Saudi Arabia to borrow $ 10 billion from international banks
SAANA – Jan. 22 (YPA) – The Saudi Arabia shocked the economic community, asking to borrow 10 million $ have, which have a significant impact on the global economy , The newspaper British the Independent reported on Sunday..
SAANA – Jan. 22 (YPA) – The Saudi Arabia shocked the economic community, asking to borrow 10 million $ have, which have a significant impact on the global economy , The newspaper British the Independent reported on Sunday..
The Saudi Central Monetary Agency (SAMA) has asked for first time from decades a group of international banks to consider supplying it with a large international loan worth about $ 10 billion.
The move comes because of the on-going crisis hitting Saudi Arabia economy, in order to try to ease the pressure on domestic liquidity.
This comes also in the time where Saudi Arabia spent the large military budget in its military aggression against Yemen since 26 March 2015.
AA