Qatari provides financial support for Oman

28/10/2020

(See Translation in Arabic section)

Oman received direct financial support worth $1 billion from Qatar as the financially-strapped sultanate seeks to confront an economic crisis exacerbated by the coronavirus and low oil prices.

Informed sources said "Qatar deposited the amount in the Central Bank of Oman, and promised that there would be more to come".

Investors said that "Qatari support for the Sultanate of Oman was a good start but more is needed”.

Oman's GDP is expected to contract by 10% this year due to lower oil prices and the economic fallout from the coronavirus pandemic, according to the International Monetary Fund.

Oman received direct financial support worth $1 billion from Qatar as the financially-strapped sultanate seeks to confront an economic crisis exacerbated by the coronavirus and low oil prices.

Informed sources said "Qatar deposited the amount in the Central Bank of Oman, and promised that there would be more to come".

Investors said that "Qatari support for the Sultanate of Oman was a good start but more is needed”.

Oman's GDP is expected to contract by 10% this year due to lower oil prices and the economic fallout from the coronavirus pandemic, according to the International Monetary Fund.