Qatari PM concerned that dollar, euro might fall

30 Sep 2012

(MENAFN) Qatari Prime Minister Sheikh Hamad bin Jassim al-Thani expressed his country’s concern that impulsive attempts by countries to stimulate their economies could weaken the dollar and the euro, Reuters reported.

Sheikh Hamad, who also heads Qatar Investment Authority (QIA), said in an interview at CNBC that printing more money, without having a strategy, would reduce the value of the money very soon.

He did not elaborate the economic measures that he believed Western countries should be taking, but said the risk of further volatility in markets was making investors such as Qatar cautious.

He also said that Qatar would retain holdings of strategic stocks and buy when prices drop, and that it would continue to make new investments in promising assets.

The top liquefied natural gas (LNG) exporter has snapped more than USD5 billion or USD6 billion worth of real estate assets over the last four to five months, mostly in the United States and Europe.

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