Qatar named the world's most richest country by Global Finance Magazine

By Barbara Tasch

Qatar, Luxembourg and Singapore: On top of sharing the particularity of being some of the smallest countries in the world, they are also the three richest countries in the world, according to an analysis by the Global Finance Magazine.

Based on data from the IMF, the magazine ranked the world's countries according to their GDP per capita and determined the poorest and richest ones.

The analysis also used a Purchasing Power Parity (PPP) basis, which takes into account the living cost and inflation rates, in order to compare living standards between the different nations.

Using this measure Qatar, located of the east coast of Saudi Arabia, has come in as the richest country in the world over the 2009-2013 period.

The Democratic Republic of Congo is at the other end of the spectrum and has been the poorest country in the world over the 2010-2013 period.