The international reserves and foreign currency liquidity of the Qatar Central Bank rose by 2.85 percent on an annual basis last May to 211 billion riyals ($57.9 billion), compared to 205.2 billion riyals in May 2021.
The reason for the growth of Qatar’s foreign reserves for the 51st consecutive month is due to several factors, foremost of which is the rise in global oil and gas prices, to record levels, under the weight of the ongoing Russian war on Ukraine, and the increase in Qatar's share of investment in foreign bonds and treasury bills, especially US, which rose on an annual basis to about 115.3 billion riyals.
Also, deposits and special drawing rights with the International Monetary Fund increased by 167 percent. While Qatar's balances with foreign banks declined by 61.68 percent, recording 20.8 billion riyals, while gold reserves fell 2.53 percent to 12.3 billion riyals.
Source (Al-Araby Al-Jadeed newspaper, Edited)
