Reuters CP / can
Flag of the Sultanate of Oman
Oman received direct financial support worth one billion dollars from Qatar, as the financial-strapped Sultanate seeks to confront an economic crisis exacerbated by the Corona virus and a drop in oil prices.
Informed sources said, “Qatar deposited the amount in the Central Bank of Oman, and promised that there would be more to come.”
Investors said, “Qatari support for the Sultanate of Oman is a good start, but more is needed.”
Oman’s GDP is expected to contract by 10% this year, due to lower oil prices and the economic repercussions of Corona, according to the International Monetary Fund.
Source: The Financial Times
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