Qatar: Worst effects of blockade ‘over’

The International Monetary Fund said the economic impact of the diplomatic rift between Qatar and the GCC-3 is fading, in its latest Article IV review issued on 5 March. While trade flows and the banking system were both affected by the blockade, the IMF said Qatar had adjusted to its new reality. New trade routes have been established, local banks have been supported by liquidity from Qatar Central Bank and public sector deposits, while banks have found new sources of non-GCC funding.