By: Heba El-Kordy

Cairo – Mubasher: Egypt raised its holdings of US Treasuries by 4% year-on-year to $2.192 billion during January, compared to $2.106 billion.

Month-on-month, the North African nation’s holdings of US bonds went up from $2.182 billion in December 2019, data by the US Department of the Treasury showed.

According to recent data, Egypt’s foreign reserves grew to $45.456 billion in January from $45.419 billion a month earlier.

It is noteworthy that the GCC region’s investments in US Treasuries reached $278.912 billion last January, up from $ 277.285 billion in December 2019.

Globally, Japan topped holders of US Treasuries with $1.212 trillion in January, up from $1.154 trillion in the prior month, followed by China that raised its holdings to $1.078 trillion from $1.069 trillion.