By: Eman Ghali

Mubasher: Kuwait reduced its holdings of US Treasury bonds by 0.68% in October, from the last year, the US Treasury Department’s figures showed.

Kuwait’s holdings of the US debt instruments inched down to $43.8 billion in October, compared with $44.1 billion in the same month last year.

Kuwaiti-held Treasury bonds were not changed from September, the Treasury Department said.

Nevertheless, the Gulf country remained the second biggest Arab country holding the US debt instruments, following Saudi Arabia which owned $178.9 billion during the month, and exceeding the UAE-held $38.4 billion bonds.

Kuwaiti holdings of US Treasuries during October comprised $36.828 billion in long-term bonds and $7.005 billion in their short-term counterparts.

Since the beginning of 2019, US bonds held by Kuwait grew by $2.5 billion, when compared with $41.3 billion in December 2018.