GCC holdings of US Treasuries rise 1.8% in February

The GCC states’ holdings of US Treasury securities amounted to around $274.77 billion in February, rising 1.8% month-on-month from $269.94 billion, the US Department of the Treasury said in a recent report.

Saudi Arabia’s holdings of the US debt instruments increased 2.7% last February to $167 billion, versus $162.6 billion in January, the report added.

The UAE has narrowed down its holdings of US Treasury securities by 2.67% month-on-month, or $1.5 billion, in February to $54.5 billion from $56 billion, data showed.

Kuwait has slashed its investments in US government bonds to $42.3 billion at the end of February, compared to $40.8 billion in January.

Meanwhile, the Sultanate of Oman has raised its US Treasury holdings to nearly $8.851 billion, versus $8.642 billion in January.

Similarly, Qatar’s holdings of US debt instruments rose to $1.238 billion in February from $1.203 billion a month earlier.

Bahrain has also raised its investment in US government bonds to $884 million, compared to $796 million in January.

On a global basis, China has topped holders of US Treasury securities with $1.130 trillion in investments at the end of February, versus $1.126 trillion a month earlier.

Japan was ranked the second among top holders of US debt instruments with $1.072 trillion in investments, compared to $1.070 trillion in January.

Furthermore, Brazil came in the third spot as it has raised its holdings of Treasury bonds last February to $307.7 billion from $305.1 billion in January.

Translated by: Mai Ezz El-Din