​For 20 years, Qatar has reaped the benefits of having by far the largest gas reserves per capita in the world and, since 2007, has been the biggest LNG exporter in the world. A strong development trend has allowed the country to ride out downward phases in oil prices since 2008 with limited economic damage, masking the weaknesses of what is, after all, a rentier model. The collapse of oil and gas prices since the end of 2014 has translated into red signals on gross public and external debt, in terms of both trends and absolute levels. Qatar appears rather vulnerable to a prolonged period of depressed oil and LNG prices. Although assets held by the Sovereign Wealth Fund still provide a significant buffer, an inability to keep growing assets or, worse, the need to liquidate, would put at risk the country’s general strategy of independent foreign policy and support for Muslim Brotherhood ideology-friendly movements abroad.
Beyond Ratings is an independent Macro-financial risk services company dedicated to country and Sovereign risks. Our team of experts and analysts builds on our proprietary risk methodology and advanced indicators. Founded in 2014, we assess countries wealth, monitor their economic and financial performance and resilience to global risks, such as energy prices and climate change. Our clients use our services for risk management, investment advisory, financial engineering and reporting requirements. Our clients are pension funds, asset managers, infrastructure funds, development banks, commercial banks and insurers.
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