AFP, Dubai :
The economic impact of the diplomatic rift between Qatar and its Gulf neighbours has so far been limited but a prolonged crisis could weaken the region’s mid-term growth, the IMF said Tuesday.
Saudi Arabia, the United Arab Emirates, Bahrain and Egypt on June 5 severed diplomatic ties with Qatar and imposed an economic blockade, accusing Doha of promoting extremist groups. Qatar, which is a member of the Gulf Cooperation Council alongside Bahrain, Kuwait, Oman, Saudi Arabia and the United Arab Emirates, has denied the charges.
The four nations froze all economic deals with gas-rich Qatar, and Riyadh closed the only land exit for the Gulf peninsula.
“The diplomatic rift between Qatar and the neighbouring countries had a limited impact on the Qatari economy and its impact on the region is muted in the short-term,” said the IMF director for the Middle East and Central Asia, Jihad Azour.
The economic impact of the diplomatic rift between Qatar and its Gulf neighbours has so far been limited but a prolonged crisis could weaken the region’s mid-term growth, the IMF said Tuesday.
Saudi Arabia, the United Arab Emirates, Bahrain and Egypt on June 5 severed diplomatic ties with Qatar and imposed an economic blockade, accusing Doha of promoting extremist groups. Qatar, which is a member of the Gulf Cooperation Council alongside Bahrain, Kuwait, Oman, Saudi Arabia and the United Arab Emirates, has denied the charges.
The four nations froze all economic deals with gas-rich Qatar, and Riyadh closed the only land exit for the Gulf peninsula.
“The diplomatic rift between Qatar and the neighbouring countries had a limited impact on the Qatari economy and its impact on the region is muted in the short-term,” said the IMF director for the Middle East and Central Asia, Jihad Azour.
