Qatar Says It Can Defend its Currency, Economy Amid Gulf Feud - Bloomberg

Qatar Says It Can Defend its Currency, Economy Amid Gulf Feud - Bloomberg:

"Qatar has enough financial firepower to defend its currency and economy, its finance minister said, as its isolation by three Gulf neighbors entered its second week. “Our reserves and investment funds are more than 250 percent of gross domestic product,” Finance Minister Ali Shareef Al Emadi told CNBC in an interview broadcast Monday. “I don’t think there is any reason that people need to be concerned about what’s happening or any speculation on the Qatari riyal.” Saudi Arabia, United Arab Emirates, Bahrain and Egypt last week cut diplomatic relations and transport links with gas-rich Qatar, saying the country must distance itself from Iran and stop funding Islamist groups. Qatar denies sponsoring terrorism and accuses the Saudis of seeking to dominate smaller neighbors."



'via Blog this'