a USD fall could 'wipe out' the debt, but I take your point. But if it falls 10%, then USD1tr is out of the pockets of the investors.
Anyway, the peg here will also stick around as there are no interest rates locally. No such thing as a QR Libor (DIBOR?), or any sort of swap curve. Without an underlying interest rate curve, the currency can't be priced. QCB is aware of this, but won't/can't comment publicly. They seem to be resisting efforts to develop a local capital market, despite lobbying by some of the largest banks in the world.
a USD fall could 'wipe out' the debt, but I take your point. But if it falls 10%, then USD1tr is out of the pockets of the investors.
Anyway, the peg here will also stick around as there are no interest rates locally. No such thing as a QR Libor (DIBOR?), or any sort of swap curve. Without an underlying interest rate curve, the currency can't be priced. QCB is aware of this, but won't/can't comment publicly. They seem to be resisting efforts to develop a local capital market, despite lobbying by some of the largest banks in the world.
Aaaah - Qatar!!