Qatar central bank says country has $340 billion in reserves, can weather Arab sanctions
Qatar has $340 billion in reserves that could help the Gulf country to weather the isolation by its powerful Arab neighbours, central bank governor Sheikh Abdullah Bin Saoud al-Thani said. Al-Thani said the central bank has $40 billion in reserves plus gold, while the Qatar Investment Authority sovereign wealth fund has $300 billion in reserves that it could liquidate. Qatari stocks have weakened and the riyal has been volatile in the spot market since Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut diplomatic and transport ties with Qatar on June 5, accusing it of backing terrorism.
Source:: https://finance.yahoo.com/news/qatar-central-bank-says-country-041249959.html
