13 Oct 2017 - 0:31
IMF praises Qatar’s robust economy
International Monetary Fund (IMF) praised the performance and robustness of the Qatari economy following a visit an IMF delegation to Qatar, with the fund’s experts reaffirming the competence and responsiveness of Qatar’s management of the current crisis.
The IMF delegation also praised the level of coordination and cooperation between the different government entities and their full readiness to face any possible scenarios.
Qatar Central Bank (QCB) Deputy Governor H E Sheikh Fahad bin Faisal Al Thani said the bank implements the latest global standards set by the IMF in issuing statements, in commitment to the bank’s policy to allow access to statements at the highest standards of quality and transparency.
H E Sheikh Fahad bin Faisal Al Thani said the bank recently amended the indices in its monthly and seasonal bulletins on the website to comply with special data dissemination standard known as SDDS, which includes indices on international reserves and liquidity in foreign currency.
The Deputy Governor said the bank has succeeded in maintaining the stability of the Qatari Riyal exchange rate and addressing the decline of 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.