August 30, 2017 / 2:30 PM / a year ago

Qatar resisting sanctions effectively -IMF official

DUBAI, Aug 30 (Reuters) - Qatar’s government has acted effectively in protecting the economy against sanctions imposed by other Arab countries, an International Monetary Fund official said on Wednesday after leading an IMF team on a week-long visit to Doha.

“The impact on banks’ balance sheets was mitigated by liquidity injections by the Qatar central bank and increased public sector deposits,” Mohammed El Qorchi said in a statement.

“These reactions reflected effective coordination and collaboration among key government agencies.” Qorchi also said authorities had acted quickly to reroute trade disrupted by the sanctions and establish new sources of food supply, allaying fears of potential shortages. (Reporting by Andrew Torchia; Editing by Robin Pomeroy)

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