Finance minister Omar Abdelrazeq accused the so-called Middle East quartet of ignoring the results of January's election after the group warned of dire consequences for Palestinian funding if Hamas does not modify its hardline stance.
Canada had also provoked Palestinian anger by becoming the first Western nation to formally freeze all its aid.
The quartet, made up of European Union, Russia, the United Nations and the United States, warned in a statement "that future assistance to any new government would be reviewed by donors against that government's commitment" to nonviolence, recognising Israel and accepting previous agreements between Israel and the Palestinian Authority.
"The quartet concurred that there inevitably will be an effect on direct assistance to that government and its ministries," it added.
In response, Mr Abdelrazeq criticised the quartet for eschewing dialogue and instead issuing what he called "threats through the media".
"That surprises us that the Western societies are refusing the results of a democratic process that all observers agreed went on in a good manner," he said.
But he said he was not worried about the finances of his administration as it had alternative sources of funding.
Other resources
"We will not be bankrupt, we have other resources and we are considering other measures. We also have the support of the Arab countries," he said.
Speaking in an interview with CNN, Palestinian President Mahmoud Abbas said Hamas was well aware of its economic and political responsibilities, but counseled patience.
"Hamas knows it is now responsible. It is the government responsible for the wellbeing of the Palestinian people... economically and politically. Therefore it knows well what is required of it but let us wait a bit."
The Hague later said the Netherlands would also boycott the Hamas government but would continue to meet Palestinian Authority president Mahmud Abbas and his advisors.
While Hamas tried to present a brave face, the funding threats were a blow for a cash-strapped administration that has already suffered an Israeli freeze in customs duty payments collected for the Palestinian Authority.
The European Union, Israel and the United States regard Hamas as a terrorist organisation, given its track record of suicide bombings, its rejection of previous peace agreements and its refusal to recognise Israel’s right to exist.
In the two months since its landslide election victory, Hamas has refused to yield to pressure for a change in its positions.
Among major regional players, only the Arab League, Russia and Turkey expressed readiness to give the new government a chance.
Yet despite the international pressure, exiled Hamas supremo Khaled Meshaal said his movement would continue to lead its armed struggle against Israel.
"We have no other choice but to link power with resistance. Resistance is a strategic choice," he said at a conference in Beirut.