Much has been made of Qatar’s so-called “recession-proof” economy. Bolstered by oil exports and an increasingly complete gas export infrastructure, the tiny emirate has been able to weather the global financial crisis well.
Despite losses of as much as $15bn on its portfolio of international assets, the country’s sovereign wealth fund managed to step in and save the financial sector from the ravages of the credit crunch, pumping billions to alleviate the banks’ toxic stocks and real estate portfolios.
