IMF praises Qatar’s robust economy

IMFThe International Monetary Fund (IMF) has praised the robustness of the Qatari economy following a visit by an IMF delegation to Qatar. The fund’s experts lauded the competence and responsiveness of Qatar’s management of the current crisis during the visit.

The delegation also praised the level of coordination between different government entities and their readiness to face any possible scenarios. Qatar Central Bank (QCB) Deputy Governor Sheikh Fahad bin Faisal al-Thani said the bank implements the latest global standards set by the IMF in issuing statements and is committed to allowing access to the statements with the highest standards of quality and transparency.

Sheikh Fahad said the bank recently amended the indices in its monthly and seasonal bulletins to comply with the Special Data Dissemination Standard (SDDS), which includes indices on international reserves and liquidity in foreign currency. He said the bank has succeeded in maintaining the stability of the Qatari riyal’s exchange rate as well as addressing the decline in non-resident deposits, adding that the banking sector in Qatar remains one of the best in the region, with strong capitalisation and high-quality assets.