Qatar Beats Its Gulf Peers in 2018's Asset Scorecards
(Bloomberg) -- It’s been a year-and-a-half since Saudi Arabia and other Arab nations cut ties with Qatar in a dramatic breakup. Most analysts at the time said they’d kiss and make up within months, but here we are, at the cusp of 2019, and there’s no sign of a reconciliation.
Even though Qatar is the one that’s been isolated, its assets have fared better this year than other Gulf nations.
The Gas-rich state has offset the impact of the embargo on its economy, prompting Moody’s Investors Service in July to reverse last year’s cut in its credit-rating outlook. Doha’s credit risk plunged and foreign investors piled into its stocks at the fastest pace since at least 2016.
Meanwhile, nations that have aligned themselves with Saudi Arabia have been exposed to the fallout of the kingdom’s policy missteps, putting pressure on their assets in a year that saw a sudden drop in the price of oil, the main source of revenue for most Gulf states.
The scorecards below show the performance of assets this year through Dec. 23.
©2018 Bloomberg L.P.