RIYADH: Saudi Arabia's holding of US Treasury securities decreased by the end of August to $124.1 billion, the lowest since May 2020, according to new data from the US government.
The Saudi holdings in August were down by 3.1 percent or $4 billion compared to the previous month.
The holdings declined by 4.5 percent, equivalent to $5.9 billion on an annual basis, compared to August 2020, the data showed.
The Kingdom is the 17th largest holder of US debt while the UAE ranks 23rd with $58.7 billion of debt. Kuwait also held $46.8 billion of US bills and bonds at the end of August, ranking 29th.
Saudi Arabia’s holdings of long term treasury securities experienced a decline in August, falling to $101.6 billion — down from $102.2 billion in July. In annual terms, long-term securities decreased by 4.5 percent compared to August last year.
Similarly, short term US debt held by KSA went down to $22.5 billion in August from $25.9 billion the previous month. Moreover, short term debt fell considerably in August when compared to the same month last year, slumping by 39.4 percent.
In August, long-term debt made up 82 percent of overall US debt held by the Kingdom while short-term debt accounted for 18 percent.
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