Qatar flooded banks with $8 billion in August to offset outflows

Qatar flooded banks with $8 billion in August to offset outflows:

"Qatar pumped 29.1 billion riyals ($8 billion) into its banking system in August to cushion it from withdrawals by financial institutions from neighboring Arab states due to the Gulf’s diplomatic crisis, central bank data showed. The current crisis, triggered by the political and economic boycott of Qatar by the United Arab Emirates, Saudi Arabia, Bahrain and Egypt, had already led to government deposit injections of $6.9 billion in July and $10.9 billion in June. The Saudi-led bloc accuses Qatar of supporting terrorism, a charge denied by Doha."



'via Blog this'