Qatar’s economic strengths highlighted at IMF event

Qatar
HE Sheikh Ahmed bin Jassim bin Mohamed al-Thani and the Qatari delegation in talks with IMF team led by Tao Zhang in Washington, DC recently.

HE the Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohamed al-Thani met with Tao Zhang, deputy director general, International Monetary Fund (IMF), on the sidelines of the ‘Economic Roadshow’ in Washington, DC. The meeting was attended by HE Faisal bin Qassem al-Thani, chairman, Qatari Businessmen Association; Rashid al-Mansouri, CEO, Qatar Stock Exchange; and representatives of several Qatari financial institutions and businessmen.

During the meeting, they discussed “the prospects of joint co-operation in economic, trade and investments and means of developing them”. The meeting also discussed the investment incentives provided by the Qatari economy, which will enhance partnerships and attract US investments to open new markets in the country.  Zhang praised the economic policies undertaken by Qatar and its success in tackling economic crises that plagued the global economy. This, he said, attests the strength of the Qatari economy.

IMF organised a special presentation for the Qatari delegation at its headquarters in Washington, DC, in the presence of a number of Qatari officials, businessmen and investors to discuss the global economic situation and the competitive advantages of the Qatari economy. An IMF representative presented a report on Qatar based on the fund’s assessment of the country’s economy.  The presentation included a comprehensive analysis of the various development indicators in Qatar, as well as highlighting proposals to strengthen the position of the Qatari economy in the region and beyond.

The IMF representative touched upon the economic reforms carried out by Qatar recently and compared that with the global economic growth and that of the developed and developing economies. The presentation also addressed the performance of the banking system during the siege, which proved strong, and the financial efficiency against geopolitical fluctuations.  The representative said that Qatar has adopted “ambitious strategic plans” to diversify its economy away from oil and gas by increasing the non-oil sector’s contribution to the macro economy and reducing reliance on hydrocarbon revenues.

 

Sources and photo-credits: Gulf Times