The Government of Qatar has ridden out a full year following its boycott by three GCC states and Egypt. But far from scrabbling for survival, the peninsular monarchy looks in fighting form with growing sources of alternative funding and a widening network of influence globally.
On 5 June 2017, Saudi Arabia, the United Arab Emirates (UAE), Bahrain and Egypt announced they were withdrawing their ambassadors and cutting diplomatic relations with Qatar. In addition, the four countries sealed their sea borders and air space to Qatari aircraft, while Saudi Arabia closed its land border to the peninsula. The quartet accuses Qatar of supporting terrorism, extremism and cosying up to Iran politically.
The boycott has turned into one of the largest political crises in decades in the Gulf Cooperation Council (GCC), resulting in logistical challenges for residents and visitors of all GCC countries, and impacting companies operating in the region.
This report explores some of the areas where Qatar is breaking new ground, its biggest challenges in the months ahead and some of the key highlights of 2018 – including a USD 12bn triple-tranche bond issuance in April that surpassed rival Saudi Arabia’s efforts.