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GCC holdings of US Treasuries fall 16.5% in December

GCC holdings of US Treasuries fall 16.5% in December
Saudi Arabia was the top GCC buyer of US Treasury bonds with $134.4 billion in December 2020.

Mubasher: Investments of the GCC states in US Treasury bills and bonds decreased by 16.5% or $45.9 billion year-on-year (YoY) during December 2020.

Total investments of Gulf countries in US Treasury bills and bonds amounted to $231.414 billion in December 2020, compared to $277.285 billion in the same month in 2019, as shown by official data. 

Saudi Arabia was the top GCC buyer of US Treasury bonds with $134.4 billion in December 2020. This is down from $179.8 billion in December 2019.

Kuwait ranked second, raising its holdings of US debt instruments by 6.47% to $46.1 billion, followed by the UAE, which cut its holdings by $4.4 billion to $36.3 billion.

Qatar held the fourth position with higher annual investments in US debt instruments by $2.91 billion last December at $7.99 billion.

On the contrary, Oman saw its holdings of US treasury bonds declining by $1.4 billion to $5.7 billion.

Bahrain tailed the list with $916 million in holdings during December 2020, compared with $1.27 billion in December 2019.