Amidst economic, diplomatic boycott Qatar sells bonds worth USD 12 bn

Qatar has sold bonds worth $12 billion (nine billion euros), the finance ministry said Thursday, attracting strong demand despite an economic and diplomatic boycott by its former Gulf allies. "The state of Qatar has achieved a successful return to the international financial markets with a total of three tranches -- worth $12 billion," said a ministry statement carried by the official Qatar News Agency (QNA).

The sale received orders of more than $50 billion, it said. Qatar has been economically and politically isolated by a Saudi-led bloc -- including the United Arab Emirates, Bahrain and Egypt -- since June 2017 over claims it supports terrorist groups and seeks better ties with Saudi arch-rival Iran.

Doha denies the accusations and says its opponents are seeking regime change in Qatar. In 2018, the gas-rich state raised $12 billion in its first dollar bond sale in two years, eclipsing Saudi Arabia's $11 billion bond issue the same year.

(With inputs from agencies.)