IMF report gives Qatar points for diversification efforts

Qatar is "well positioned to mitigate" the macroeconomic challenges it is currently facing, a new IMF report on the country has said. Like many of its Gulf neighbours with oil export-based economies, Qatar is in the midst of a diversification drive, although in its case, it started even before the recent global downturn in petrochemical prices. But continued low oil prices on global markets, coupled with fresh market competition from fracking and renewable energy sources, have given a new sense of urgency to efforts to make the economy more balanced. At the same time, the country i...