Kuwait News

Kuwait’s holdings of US Treasury bonds experience annual decline

By the end of October last year, Kuwait’s holdings of US Treasury bonds experienced an annual decline of approximately 21.2 percent, amounting to $10.66 billion, and reaching $39.62 billion compared to the October level of the previous year, which stood at $50.28 billion.

The monthly report from the US Treasury Department shows Kuwait’s possession of US bonds has shown a decrease of about 18.34 percent since the beginning of the current year, equivalent to $8.9 billion, reports Al-Rai daily.

It stood at $48.52 billion at the end of 2022. On a monthly basis, Kuwait’s holdings of bonds decreased by 1.25 percent compared to the September level, which amounted to $40.78 billion.

Kuwait’s holding of bonds comprised $37.62 billion in long-term bonds and $2 billion in short-term bonds.

Among Arab countries, the Kingdom of Saudi Arabia maintained its leading position in possession of US Treasury bonds in October, totaling around $117.5 billion. Globally, Japan secured the top spot with bonds worth $1.098 trillion.

In general, US Treasury bonds in October 2023 reached approximately $7.565 trillion, marking a 6.06 percent increase from the same month the previous year ($7.133 billion), despite a monthly decrease of 0.51 percent.

It is important to note that the information disclosed by the US Treasury in its monthly statements pertains exclusively to countries’ investments in US Treasury bills and bonds and does not encompass other investments in the United States, whether governmental or private.

US Treasury bonds serve as a mechanism for countries and institutions to raise funds and incur debts, with the government repaying them upon their respective maturity dates, which vary depending on the term of the bond.

Read Today's News TODAY...
on our Telegram Channel
click here to join and receive all the latest updates t.me/thetimeskuwait

Back to top button