Qatar’s banks face a deteriorating situation as blockade continues, Moody’s says

Peace and Freedom

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The Doha Skyline at the Sheraton Grand Hotel on November 17, 2016 in Doha, Qatar.
  • Moody’s Investors Service cut the outlook for Qatar’s banking system to negative from stable on Tuesday
  • Qatar has faced a two-month economic embargo imposed by other Gulf Cooperation Council members

August 8, 2017

Moody’s Investors Service cut the outlook for Qatar’s banking system to negative from stable on Tuesday amid a continuing blockade of the country by its neighbors.

Qatar has faced a two-month-long economic embargo imposed by a group of fellow Gulf Cooperation Council countries, including Saudi Arabia.

The Saudi-led group has presented Qatar with a list of demands, including shutting down the Al-Jazeera news network, the closure of a Turkish base and a downgrade of its relations with Iran. Qatar has refused.

Moody’s pointed to weaker operating conditions and continued funding…

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