The total international reserves and foreign liquidity at the Qatar Central Bank increased by 1.3% on a monthly basis, to reach about $60 billion last October.
According to Qatar Central Bank data, last month, official reserves grew by 1.8 percent, compared to the previous month, to $44 billion, supported by increased investment in foreign treasury bonds to about $31.8 billion.
The data, according to what was published by the economic channel CNBC Arabia on Monday, showed that Qatar's foreign reserves cover the value of the country's merchandise imports for about 22 months in a row.
Qatar is working to support its balance of foreign reserves to support the local currency, and to reduce the ratio of public debt to GDP, by taking advantage of the high value of financial surpluses resulting from increased revenues from high energy prices.
Foreign reserves include foreign bonds and treasury bills, cash balances with foreign banks, gold holdings, special drawing rights deposits, and Qatar's share in the International Monetary Fund.
Last Sunday, Standard & Poor's, the international credit rating agency, raised Qatar's credit rating to AA with a stable outlook.
The agency expected that Qatar will achieve large budget surpluses and reduce debt service costs in a sustainable manner, thanks to the successful government strategy to pay off debts that have come to maturity.
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