Qatar is postponing $8 billion of contracts due to coronavirus: Report

An empty departures hall at Hamad International Airport, Doha. (File photo: Reuters)

Qatar’s ruler has asked the government to postpone $8.2 billion in unawarded contracts on capital expenditure projects due to the coronavirus outbreak, a bond prospectus seen by Reuters showed.

The spread of the coronavirus may continue to negatively impact the Qatari economy and financial markets and could lead to a recession, the Gulf state also said in the document, dated April 7.

Qatar on Tuesday started marketing a triple-tranche US dollar-denominated bond.

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Last Update: Wednesday, 20 May 2020 KSA 09:57 - GMT 06:57
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