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Qatar stands up to Saudi, says not worried as it has $340 bn in reserves

Despite market ructions, economists say Qatar has taken a number of measures to weather the crisis

Reuters  |  Dubai 

Qatar has $340 billion in reserves including holdings of its sovereign wealth fund that could help the Gulf country to weather the isolation by its powerful Arab neighbours, central bank governor Sheikh Abdullah Bin Saoud al-Thani told CNBC. "This is the credibility of our system, we have enough cash to preserve any kind of shock," he told the news channel in an interview published early on Monday on its website. Al-Thani said the central bank has $40 billion in reserves plus gold, while the Qatar Investment Authority has $300 billion in reserves that it could ...

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First Published: Mon, July 10 2017. 11:03 IST