Qatar’s big economic conundrum - The National:
"The third month into the diplomatic crisis, the most serious since the founding of the Gulf Cooperation Council in 1981, Qatar’s intransigence towards the quartet of Saudi Arabia, the UAE, Bahrain and Egypt continues. Doha’s defiant stance towards its Arab neighbours has come at a high price. The country, which supplies about a third of the world’s total liquefied natural gas (LNG), has been forced to tap into its foreign currency reserves and borrow from debt markets to support its economy, which is facing the prospect of posting a fiscal deficit. Yesterday the country’s sovereign wealth fund was compelled to reduce its stake in Credit Suisse to 4.94 per cent Trouble for Qatar began when the Arab bloc led by Saudi Arabia severed diplomatic and transport relations with Doha over accusations of meddling in their internal affairs as well the country’s support for “terrorist groups aiming to destabilise the region”. "
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