Three years after being isolated by its Gulf Arab neighbors, Qatar also stands apart in the currency market.
Its peg against the dollar has been the only one in the region that hasn’t come under pressure even as local economies succumb to what may be their worst recession ever. The nation’s bonds have also outperformed those of the other five members of the Gulf Cooperation Council this year.
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Qatar has bulked up its fiscal defenses and grown more self-sufficient after four Arab states led by Saudi
Arabia severed diplomatic and trade ties over accusations that it supported terrorist groups -- allegations
the emirate denies.
The world’s biggest exporter of liquefied natural gas, due to host the 2022 soccer World Cup, has since rebuilt its reserves and brought the oil price it needs to balance the budget to the lowest in the region. S&P Global Ratings projects the size of the government’s liquid financial assets will average about 177% of gross domestic product from 2021 through 2023.
The world’s biggest exporter of liquefied natural gas, due to host the 2022 soccer World Cup, has since rebuilt its reserves and brought the oil price it needs to balance the budget to the lowest in the region. S&P Global Ratings projects the size of the government’s liquid financial assets will average about 177% of gross domestic product from 2021 through 2023.
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