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Wednesday, 5 July 2017

Qatar economic outlook downgraded hours before crunch Gulf meeting | World news | The Guardian

Qatar economic outlook downgraded hours before crunch Gulf meeting | World news | The Guardian:



"Ratings agency Moody’s has downgraded Qatar’s economic outlook as political uncertainty swirled ahead of a crunch meeting between Arab nations on Wednesday in Cairo.

A quartet of Arab nations said early on Wednesday it had received Qatar’s response to its demands for ending a diplomatic crisis gripping the Persian Gulf. Bahrain, Egypt, Saudi Arabia and the United Arab Emirates said only that they would respond “in a timely manner”.

Ratings agency Moody’s changed Qatar’s outlook to negative, saying this was largely due to the ongoing diplomatic dispute engulfing the tiny, energy-rich nation. Early on Wednesday it said “the likelihood of a prolonged period of uncertainty extending into 2018 has increased and a quick resolution of the dispute is unlikely over the next few months”. The turmoil “carries the risk that Qatar’s sovereign credit fundamentals could be negatively affected”, it added."



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