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Middle East and Central Asia > Qatar

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Cover Policy Papers
The Managing Director's Global Policy Agenda, Annual Meetings 2024: Secure A Soft Landing And Break From The Low Growth–High Debt Path
International Monetary Fund. Strategy, Policy, & Review Department
The global economy has proven resilient, and a soft landing is within reach. Inflation has moderated thanks to tight monetary policy and fading supply shocks, and growth is expected to remain steady. But uncertainty remains significant, with risks tilted to the downside; medium-term growth prospects are lackluster; public debt has reached record highs and is expected to approach 100 percent of GDP by 2030; and geoeconomic fragmentation threatens to undo decades of gains from cross-border economic integration. At the same time, transformative changes—the green transition, demographic shifts, and digitalization, including artificial intelligence—are poised to reshape the global economy, creating challenges but also opportunities. Against this background, the key policy priorities are to secure a soft landing and break from the low growth-high debt path, and address other medium-term challenges. Monetary policy should ensure inflation returns durably to the target, and fiscal policy needs to decisively pivot toward consolidation to rebuild buffers and safeguard debt sustainability. Growth-enhancing reforms are urgently needed to lift growth prospects by boosting investment, job creation, and productivity. Domestic policies must be complemented by multilateral efforts to support countries with debt vulnerabilities, protect gains from economic integration, accelerate climate action, and harness benefits of new technologies while mitigating the risks. As it has done since its founding 80 years ago, the IMF will continue to adapt to serve its members with tailored policy advice, financial lifelines when needed, and capacity development. The Fund will remain a strong advocate for multilateralism and economic integration as foundations on which to build a resilient and inclusive global economy.
Keywords:
Artificial intelligence; Capital flows; Climate change; Debt sustainability; Digitalization; Economic integration; Inflation; Growth; Reforms; Integrated Policy Framework; Poverty reduction strategy; Revenue mobilization; break from the Low Growth-High Debt Path; secure a soft landing; Policy agenda; IMF staff measure; lending toolkit; Global
Cover IMF Working Papers
License to Spill: How Do We Discuss Spillovers in Article IV Staff Reports
Jelle Barkema
,
Mr. Mico Mrkaic
, and
Yuanchen Yang
This paper dives into the Fund’s historical coverage of cross-border spillovers in its surveillance. We use a state-of-the-art deep learning model to analyze the discussion of spillovers in all IMF Article IV staff reports between 2010 and 2019. We find that overall, while the discussion of spillovers decreased over time, it was pronounced in the staff reports of some systemically important economies and during periods of global spillover events. Spillover discussions were more prominent in staff reports covering advanced and emerging market economies, possibly reflecting their role as sources of global spillovers. The coverage of spillovers was higher in the context of the real, financial, and external sectors. Also, countries with larger economies, higher trade and capital account openess and lower inflation are more likely to discuss spillovers in their Article IV staff reports.
Keywords:
spillover discussion; model performance; discussion of spillover; General spillover pattern; spillover event; IMF staff calculation; Spillovers; Probit models; Machine learning; Capital account; Inflation; Global
Cover IMF Staff Country Reports
Qatar: 2009 Article IV Consultation-Staff Report; and Public Information Notice
International Monetary Fund
The staff report for Qatar’s 2009 Article IV Consultation describes economic development and policies. The underlying strength of the economy derived from  Qatar’s hydrocarbon  revenues, and timely and decisive intervention by the government in the banking system has helped to limit the impact of the global crisis and maintain financial stability. A cornerstone  of Qatar’s strategy is  commitment to diversify the economy by building related industries around the full liquefied natural gas value-chain and linking upstream, midstream, and downstream components.
Keywords:
ISCR; CR; Qatar; government; debt; price; Qatari riyal; growth strategy; financial asset; growth performance; labor market survey; GDDS summary table II; exchange rate; Commercial banks; Balance of payments statistics; Debt service; Global; Middle East; North Africa; East Africa
Cover IMF Working Papers
Today versus Tomorrow - The Sensitivity of the Non-Oil Current Account Balance to Permanent and Current Income
Mr. Alun H. Thomas
and
Mr. Tamim Bayoumi
This paper applies the Permanent Income Model to the non-oil current accounts of the major oil exporters to assess the extent to which national consumption decisions in these countries are made on the basis of permanent versus current income. A test of whether the return on oil wealth and oil balance coefficients sum to unity is accepted for all specifications that adjust the return on wealth for future population changes. For oil-exporting countries outside Africa, around half of the fluctuations in the private sector non-oil balance are driven by considerations of changes in permanent income (the return on oil wealth) rather than current income. By contrast, for the public sector and African countries permanent income has little or no effect.
Keywords:
WP; trade balance
Cover IMF Working Papers
Current Account and Precautionary Savings for Exporters of Exhaustible Resources
Mr. Rudolfs Bems
and
Mr. Irineu E de Carvalho Filho
Exporters of exhaustible resources have historically exhibited higher income volatility than other economies, suggesting a heightened role for precautionary savings. This paper uses a parameterized small open economy model to quantify the role of precautionary savings in economies with exhaustible resources, when the only source of uncertainty is the price of the exhaustible resource. Results show that the precautionary motive can generate sizable external sector savings. When aggregated over the sample countries, precautionary savings in 2006 add up to 3.2 percent of GDP. The quantitative importance of the precautionary motive varies considerably across the sample countries and is driven primarily by the weight of exhaustible resource revenues in future income. The parameterized model fares well at capturing current account balances in both cross-section and time-series data.
Keywords:
WP; precautionary saving; interest rate; open economy
Cover IMF Staff Country Reports
Qatar: 2008 Article IV Consultation: Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion;
International Monetary Fund
Qatar’s macroeconomic performance was strong in 2008, notwithstanding the global financial crisis. This 2008 Article IV Consultation discusses that overall real GDP growth is estimated at 16 percent in 2008, driven by expansions in the production of oil, liquefied natural gas, and condensates. Executive Directors have welcomed the authorities’ intention to moderate fiscal expansion and broaden the non-oil revenue base over the medium term. They have supported the emphasis on building capacity in infrastructure and easing supply bottlenecks while containing government current expenditure to reduce inflation.
Keywords:
ISCR; CR; oil price baseline assumption; surplus; rate; draft accord; real gross domestic product; rent inflation; Qatari riyal; Qatar's economy; exchange rate; Inflation; Oil prices; Commercial banks; Balance of payments statistics; Global
Cover IMF Staff Country Reports
Qatar: 2007 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Qatar
International Monetary Fund
Budget revenue in FY2006/07 amounted to 42 percent of GDP, with hydrocarbon revenue mirroring rising oil prices. The current account recorded a surplus of about 31 percent of GDP in 2006. Monetary conditions were characterized by ample liquidity and strong credit growth. Qatar’s medium-term (2008–12) outlook is favorable. As of June 2007, annualized inflation was estimated to have risen to 13 percent, compared with 12 percent during 2006. Designing a credible transition plan to implement the vision of a single financial market will be challenging.
Keywords:
ISCR; CR; WEO oil price; surplus; WEO baseline; projection; GDP; oil price increase; gas reserve; fund staff estimate; oil prices outlook; Oil prices; Oil; Inflation; Global
Cover Regional Economic Outlook, October 2007, Middle East and Central Asia
Regional Economic Outlook, October 2007, Middle East and Central Asia
International Monetary Fund. Middle East and Central Asia Dept.

Abstract

The Middle East and Central Asia is undergoing a remarkable transformation driven by rapid GDP growth and high oil and non-oil commodity prices. The report presents common economic trends and reviews prospects and policies for the coming year in light of the global economic environment. This latest REO includes boxes treating both regional topics--such as growth in the Maghreb countries; developments in the oil markets; the boom in the GCC countries, and the impact of the recent global credit squeeze on the region--and country-specific reviews, of Kazakhstan, Armenia, Egypt, Pakistan, and the UAE.

Keywords:
REO; country authorities; country; low-income country; oil exporter; country datum; current account; broad money; State oil company; Oil; Emerging and frontier financial markets; Oil prices; Inflation; Current account surpluses; Middle East and Central Asia; Global; Maghreb; Brent crude; credit market; poverty rate; IMF staff estimate; consumer goods; heightened market volatility; market valuation; headline inflation; double digit oil GDP growth; emerging market country; federal funds rate; equity price
Cover Summary Proceedings of the Twenty-Seventh Annual Meeting of the Board of Governors 1972
Summary Proceedings of the Twenty-Seventh Annual Meeting of the Board of Governors 1972
International Monetary Fund. Secretary's Department

Abstract

The speeches made by officials attending the IMF–World Bank Annual Meetings are published in this volume, along with the press communiqués issued by the International Monetary and Financial Committee and the Development Committee at the conclusion of the meetings.

Keywords:
AS; prefix; R. van S.; fund documents no; IBRD election; IMF election; van S.; International monetary system; Monetary systems; Currencies; International liquidity; Reserve assets; Global; Africa; Central America; Europe; Caribbean