Moody’s Investors Service cut the outlook for Qatar’s banking system to negative from stable on Tuesday amid a continuing blockade of the country by its neighbors.
Qatar has faced a two-month-long economic embargo imposed by a group of fellow Gulf Cooperation Council countries, including Saudi Arabia.
The Saudi-led group has presented Qatar with a list of demands, including shutting down the Al-Jazeera news network, the closure of a Turkish base and a downgrade of its relations with Iran. Qatar has refused.
