Qatar’s international reserves may scale up to $485bn by 201..

Qatar’s international reserves may scale up to $485bn by 201..:

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Qatar’s international reserves are likely to scale up to $485bn by 2017 even as the country continues to “build large financial buffers against adverse global shocks”, shows a new report.

Qatar, according to Beltone Financial, has the “appropriate policy mix to manage domestic and external risks”.

Qatar continues to build large financial buffers against adverse global shocks. Despite large external debt, Qatar has foreign exchange reserves of more than 100% of GDP.

It has been the government’s practice in recent years to transfer up to 50% of LNG export earnings to the Qatar Investment Authority (QIA) as part of a strategy to diversify hydrocarbon income abroad, Beltone said. “Reflecting the buildup in foreign exchange reserves”, external assets by the QIA are estimated to have reached $175bn (90% of GDP) in addition to official reserves of around $39bn (20% of GDP) at Qatar Central Bank as of end-October in 2013."

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