Doha: S&P Global and Moody’s credit ratings for the State of Qatar stands at AA with positive outlook, given the country’s gross domestic product, high GDP per capita, huge hydrocarbon reserves, the high net asset value, and the efficient monetary and fiscal policies, the international credit rating agencies conference revealed on Monday.
The conference was held by the Qatar Association of Certified Public Accountants (QCPA), under the auspices of HE Minister of Social Development and Family Maryam bint Ali bin Nasser Al Misnad, and in strategic partnership with the Global Compliance Institute (GCI), and with the participation of a number of local and international bodies.
The Board Deputy Chairman of the QCPA, Abdullah Al Mansoori said the first of its type conference in the State of Qatar gains high importance amid the financial, economic and geopolitical crises hitting the world, as well as the supply chain disruption, inflation and the COVID-19 pandemic impacts, with countries seeking to prove their credit and investment ratings to receive funding from international agencies to avoid the risks and get out of these crises with minimal losses and without disrupting the development process.
The importance of global rating agencies in the global economy has increased amid the significant shift in global economic activity, especially the liberalization of financial markets and banking services, in addition to the development of financial engineering that increased the complexity of exchanges and obligations, particularly with the mergence of financial derivatives, Al Mansoori told the conference.
This increased the financial risks in global markets, elevating the importance of the rating agencies’ role as a tool to reduce financial risks and the resulting severe financial crises, he added.
