The direct economic and financial impact for Qatar as a result of the diplomatic boycott with some Arab states is fading, according to a report from the International Monetary Fund.
Qatar’s banking system has recovered from initial outflows and the economy is expected to grow 2.6 percent this year, the IMF said in a report citing formal consultations with Qatar.
Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut diplomatic and transport ties with Qatar on June 5, 2017, disrupting Doha’s imports and triggering the withdrawal of billions of dollars of deposits from Qatari banks.
The crisis revolves around allegations by Saudi Arabia, the UAE, Bahrain and Egypt that Qatar supports terrorism, a charge which Doha denies.
by Reuters and Algemeiner Staff