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Qatar has no plans to issue debt on international markets in 2014

Qatar aims to issue no debt on international markets next year, it has been revealed.

Speaking at a financial conference in Doha on Tuesday, the nation’s finance minister Ali Sherif al-Emadi made it clear that this was not part of his financial strategy.

He told reuters.com: “We are going to focus on the local market and it will be used for monetary purposes. It is only for monetary and liquidity management. That’s about it.”

These were Emadi’s first public comments on the nation’s debt situation since his appointment in June. He claimed that Qatar would adjust its hitherto fixed offerings of local currency debt as necessary.

He also agreed with central bank governor Sheik Abdullah’s Bin Saud Al-Thani’s view that drainage of the market through local debt issues could be changed flexibly.

“We are very much dynamic, comparing the models. We always look at the market and if it is required we will be flexible when we need to,” he said.

Emadi was speaking shortly after a Standard Chartered Bank report tipped the nation’s debt dynamics to strengthen over the next five years.

According to gulf-times.com, the report’s authors predicted that the country’s non-hydrocarbon economy would be its primary growth driver in 2014.

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