{"id":109131,"date":"2026-05-19T00:00:00","date_gmt":"2026-05-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?p=109131"},"modified":"2026-05-19T03:12:49","modified_gmt":"2026-05-19T03:12:49","slug":"this-morning-dar-al-arkan-eyes-fixed-rate-usd-financing","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2026\/05\/19\/this-morning-dar-al-arkan-eyes-fixed-rate-usd-financing\/","title":{"rendered":"THIS MORNING: Dar Al Arkan eyes fixed-rate USD financing"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, wonderful people.<\/strong> We\u2019re starting off the day looking at a highly anticipated launch into a completely rewritten sky, as Riyadh Air prepares for its commercial takeoff this summer. We\u2019re breaking down the major macro headwinds facing the premium carrier \u2014 from costly post-conflict flight rerouting and skyrocketing jet fuel prices to Boeing delivery bottlenecks \u2014 as it looks to carve out its place in the clouds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>Dar Al Balad\u2019s IPO draws massive retail demand to finish 3.7x oversubscribed, Taiba locks in a SAR 2.4 bn hospitality JV to build three new Madinah hotels, and Aramco officially plugs into the quantum computing era.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- Dust in the wind:<\/strong> Strong winds are sweeping across the Northern Borders, Al-Jawf, Tabuk, Hail, Qassim, the Eastern Province, Najran, and Makkah today, kicking up dust and reducing visibility in some areas. Meanwhile, parts of Jazan, Asir, Al-Baha, and Makkah are expected to see rain and thunderstorms.<\/p>\n<ul>\n<li>Riyadh: 36\u00b0C high \/ 25\u00b0C low;<\/li>\n<li>Jeddah: 42\u00b0C high \/ 27\u00b0C low;<\/li>\n<li>Makkah: 46\u00b0C high \/ 31\u00b0C low;<\/li>\n<li>Dammam: 36\u00b0C high \/ 25\u00b0C low.<\/li>\n<\/ul>\n<p class=\"tag-border-left\"> Watch this space<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>DEBT WATCH \u2014<\/strong> <strong><a target=\"_blank\" href=\"https:\/\/www.daralarkan.com\/\" style=\"\">Dar Al Arkan<\/a><\/strong><strong> is the latest company to tap the USD debt market.<\/strong> The real estate developer will issue USD-denominated senior unsecured sukuk, with investor calls starting yesterday, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=95472&anCat=1&cs=4300&locale=en\" style=\"\">Tadawul disclosure<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A trend? <\/strong>S&P <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/11\/25\/corporates-will-turn-to-global-debt-markets-as-investment-needs-overwhelm-internal-funding-resources-sp\/\" style=\"\">expected<\/a> private-sector companies, including Dar Al Arkan, to increase their USD-denominated issuance as they seek long-term, fixed-rate financing for big projects. Dar Al Arkan last raised USD 750 mn from a sukuk issuance in <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/29\/dar-al-arkans-usd-750-mn-sukuk-issuance-sees-strong-demand\/\" style=\"\">June 2025<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The developer had a good quarter:<\/strong> Dar Al Arkan <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/10\/zain-saw-is-net-income-double-last-quarter\/\" style=\"\">posted<\/a> an increase of 24.3% y-o-y in net income to SAR 260.2 mn in 1Q 2026, while revenue rose 24.8% y-o-y to SAR 1.2 bn. Higher property sales and higher returns from Islamic Murabaha deposits and improved cost management helped prop up the results.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>The company tapped Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank PJSC, Al Rayan Investment, Arqaam Capital, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, JP Morgan, Mashreq, Sharjah Islamic Bank, Standard Chartered Bank, and Warba Bank as joint lead managers and bookrunners.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>BANKING \u2014 B<\/strong><strong>anks<\/strong><strong> capitalize on deposits and asset quality <\/strong><strong>amid slower <\/strong><strong>lending:<\/strong> Saudi banks\u2019 deposits rose by 8.7% y-o-y in March, boosting liquidity buffers as loan growth slowed to 8% over the same period, down from previous highs of 16-18%, reflecting a broader slowdown in credit expansion, Riyad Bank\u2019s Chief Economist Naif Al Ghaith told the Arabic Press (<a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/banks\/133129\/%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D8%B1%D9%8A%D8%A7%D8%B6-%D9%86%D9%85%D9%88-%D8%A7%D9%84%D9%88%D8%AF%D8%A7%D8%A6%D8%B9-%D9%81%D9%8A-%D8%A7%D9%84%D8%A8%D9%86%D9%88%D9%83-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D9%8A%D8%AF%D8%B9%D9%85-%D8%A7%D9%84%D8%A5%D9%82%D8%B1%D8%A7%D8%B6\/\" style=\"\">watch, runtime: 7:52<\/a>). Asset quality also improved, with non-performing loans declining, which Al Ghaith said points to continued resilience despite geopolitical tensions and growth normalization.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Debt issuance is still on the table:<\/strong> Banks are still expected to tap local and international debt markets to bridge the gap between loans and deposits, though issuance volumes are likely to be lower than in previous years due to stronger deposit inflows, Al Ghaith said. Demand deposits rose 3%, while time and savings deposits increased 16%, narrowing the overall funding gap and reducing reliance on external funding.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>DEVELOPMENT FINANCE \u2014 <\/strong><strong>Saudi Arabia<\/strong><strong> and the IMF held <\/strong><strong>their second strategic dialogue on capacity <\/strong><strong>development<\/strong>, the IMF\u2019s Middle East and Central Asia Director Jihad Azour said in a <a target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/news\/articles\/2026\/05\/18\/pr26155-saudi-arabia-2nd-high-level-strategic-dialogue-cd\" style=\"\">statement<\/a>. The two sides agreed to expand support for IMF capacity-building programs across the Middle East, North Africa, and Sub-Saharan Africa, as well as for global initiatives, with discussions focused on advancing economic reforms and addressing rising demand amid global and regional uncertainty. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters: <\/strong>The dialogue signals a shift in Saudi support for IMF-linked, structured capacity-building programs rather than large, bilateral balance-of-payments deposits. Launched in 2024 under a USD 279 mn, 10-year framework, the Saudi Arabia-IMF capacity development partnership routes funding through IMF mechanisms, tying support more closely to policy programs and reform agendas across recipient countries. Saudi Arabia is the IMF\u2019s third-largest contributor to capacity development initiatives across regional and global programs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a>  <strong>DEFENSE \u2014 <\/strong><strong>Pakistan<\/strong><strong> reportedly deployed thousands of troops and advanced <\/strong><strong>military assets to Saudi Arabia during the Iran conflict<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/pakistan-deploys-jet-squadron-thousands-troops-saudi-arabia-during-iran-war-2026-05-18\/\" style=\"\">Reuters<\/a> reports, citing unnamed sources. The deployment included 8k troops, a squadron of 16 JF-17 fighter jets, drones, and a Chinese HQ-9 air defense system operated by Pakistani personnel and financed by Saudi Arabia. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not just a gesture? <\/strong>The deployment is said to be combat-capable, sent to boost the Kingdom\u2019s defenses in the event of further attacks on Saudi-based targets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Only the tip of the iceberg:<\/strong> Pakistan could deploy as many as 80k troops to help secure the borders alongside Saudi forces under their joint defense agreement. The pact may also include naval cooperation and the deployment of Pakistani warships.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh and Islamabad are getting cozier:<\/strong> Pakistan <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/04\/12\/this-morning-us-iran-negotiations-pakistani-reinforcements-and-more\/\" style=\"\">sent<\/a> fighter jets to the King Abdulaziz air base in April, while Saudi Arabia provided financial support by <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/04\/16\/this-morning-pifs-five-year-strategy-inches-closer-to-the-light\/\" style=\"\">extending<\/a> a new USD 3 bn loan to Pakistan to allow it to make good on an equivalent loan repayment to the UAE. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>SPORTS \u2014 PIF<\/strong><strong> to sell minority stake in Newcastle United? <\/strong>The PIF is reportedly pitching a minority share of Newcastle United to potential investors as part of its <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/27\/saff-approves-2024-budget-new-stadium-for-newcastle-united\/\" style=\"\">stadium fundraising<\/a> efforts, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sports\/soccer\/saudi-pif-talks-with-potential-investors-fund-newcastle-united-plans-sources-say-2026-05-18\/\" style=\"\">Reuters<\/a> reports, citing three unnamed sources. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Two options remain on the table: <\/strong>The jury is still out on whether the sovereign wealth fund will opt to revamp the Premier League club\u2019s stadium \u2014 St. James\u2019 Park \u2014 or establish a GBP 1 bn multi-sport, 70k-seater stadium.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Data point<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>140.9 mn<\/strong><strong> \u2014 that\u2019s the total number of passengers who traveled through <\/strong><strong>Saudi airports in 2025<\/strong>, up by 9.6% compared to 2024, according to Gastat <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/5\/1083.pdf\" style=\"\">data (pdf)<\/a>. International passenger traffic through our local airports climbed 9.4% y-o-y to 75.8 mn travelers, while domestic passenger volumes rose 9.8% to 65.1 mn passengers.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<\/strong><strong>You\u2019re reading EnterpriseAM Saudi<\/strong>, your essential daily roundup of business, economics, and must-read news about Saudi, delivered straight to your inbox. We\u2019re out Sunday through Thursday by 7am Riyadh time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM Saudi is available without charge <\/strong>thanks to the generous support of our friends at Tas\u2019heel and Hassan Allam Properties.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on <a target=\"_blank\" href=\"mailto:climate@enterprisemea.com\" style=\"\">saudi@enterpriseAM.com<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DID YOU KNOW <\/strong>that we also cover <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\" style=\"\">Egypt<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\">the UAE<\/a>, the MENA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\">logistics<\/a> industry, and the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/mena-india\/en\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/mena-india\/en\" style=\"\">MENA <> India<\/a> corridor?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/newsletters\/\" style=\"\">Tap or click here<\/a> to get your own copy of EnterpriseAM Saudi delivered every weekday.<br \/><strong>***<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1108.jpg?ssl=1\"\/><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">In a market defined by geopolitical risk, inflation, currency volatility, and declining interest rates, knowing how to manage your money has never been more important, and yet few people are really good at it.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The default in Egypt has traditionally been to dollarize, buy real estate, or stash your extra cash in a high-yield certificate of deposit, but that playbook is dying.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">With an illiquid real estate market, the era of ultra high-yield deposits coming to an end, and a rapidly expanding ecosystem of digital investment options, investors are looking for new, smarter opportunities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">In this four-part series, <strong>EnterpriseAM Money Matters<\/strong> will walk you through smart personal finance decisions regardless of your age, income, or starting point.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a target=\"_blank\" href=\"https:\/\/sub.ent.news\/eg\" style=\"\">Subscribe to our Egypt edition<\/a> and take the first step toward making your money work harder \u2014 delivered to your inbox tomorrow, May 20. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">The big story abroad <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US President Donald Trump <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-05-18\/us-and-iran-still-at-odds-despite-renewed-diplomatic-efforts\" style=\"\">has decided<\/a><\/strong><strong> to \u201cput off\u201d a scheduled strike against Iran<\/strong>, following requests from the leaders of the UAE, Saudi Arabia, and Qatar. Trump said the strike was scheduled for today and that a \u201cfull, large scale assault\u201d on the Islamic Republic will go ahead if a resolution is not reached.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A quid pro quo with Adani?<\/strong> The Trump administration <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/india\/us-treasury-announces-275-million-settlement-with-indias-adani-enterprises-2026-05-18\/\" style=\"\">dropped<\/a> a criminal fraud case against Indian b'naire Gautam Adani. The move followed statements from Adani\u2019s lawyer indicating that the pending cases were blocking his planned USD 10 bn investment in the US. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One last thing from Washington: <\/strong>The Securities and Exchange Commission is reportedly <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-05-18\/sec-is-said-to-ready-plan-for-trading-crypto-versions-of-stocks?srnd=homepage-middle-east\" style=\"\">readying a plan<\/a> for trading tokenized stocks as early as this week. The new framework is expected to allow tokens that track share prices without the backing or consent of underlying public companies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, in the world of AI:<\/strong> Elon Musk <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/legal\/government\/elon-musk-loses-lawsuit-against-openai-2026-05-18\/\" style=\"\">lost<\/a> his lawsuit against OpenAI after a US jury unanimously ruled that the startup was not liable to Musk for allegedly abandoning its humanitarian goal. The development further paves the way to OpenAI\u2019s highly anticipated IPO, which could value the firm at USD 1 tn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A new player will soon enter the AI space: <\/strong>Google and Blackstone <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/ai\/google-and-blackstone-to-create-new-ai-cloud-company-0e35b91f?mod=hp_lead_pos4\" style=\"\">plan to form<\/a> an AI cloud company with USD 5 bn in capital, scheduled to bring 500 MW of capacity online by next year. Blackstone \u2014 the majority owner \u2014 will front the equity while Google will provide its specialized chips. This will place the duo in competition with companies like CoreWeave \u2014 which uses Nvidia-made chips \u2014 as the demand for AI computing power continues to rise.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Citigroup + BlackRock arm to fund firms in Europe (and MENA?):<\/strong> A new alliance between Citigroup and BlackRock\u2019s private credit division <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/65602a81-ee5b-4b65-803d-a7570fb5d5c8?syn-25a6b1a6=1\" style=\"\">will deploy<\/a> up to USD 15 bn in loans to European corporations and leveraged buyout groups. They expect the partnership \u2014 where Citi sources agreements for BlackRock funds to finance \u2014 to eventually expand into the Middle East. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rising deposits bolster Saudi banks\u2019 liquidity amid slower credit expansion<\/p>\n","protected":false},"author":1,"featured_media":109132,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2540],"tags":[19,1669,2441,2672,10,337,678,9],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-109131","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-banking","tag-dar-al-arkan","tag-debt","tag-defense","tag-enterpriseam-ksa","tag-imf","tag-pakistan","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"2b9e3212-e345-4739-98ea-ce4ef1a28a2c","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2025\/2\/1767.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Dar Al Arkan to tap USD debt market","related_issue":[109129],"teaser":"Rising deposits bolster Saudi banks\u2019 liquidity amid slower credit expansion"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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