Strong government balance-sheet with minimal debt and large external liquidity Prosperous economy underpinned by large resource endowment A solid track record of long-term and prudent policies Large reliance of government finances and exports on oil and gas revenues Still developing political institutions, lacking the accountability and transparency needed for an efficient market economy High geopolitical risks The ratings on the State of Qatar are supported by the government's solid fiscal and external balance sheets, a prosperous economy with strong growth prospects, and prudent long-term policies. The ratings are constrained by still-nascent public institutions, limited transparency with respect to government assets, and geopolitical risks that face all sovereigns in the region. Qatar's economy is weathering the global downturn well, and should
