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Iraq ascends in rankings as holder of U.S. treasury bonds

Iraq ascends in rankings as holder of US treasury bonds
Iraq ascends in rankings as holder of U.S. treasury bonds

2023-09-28 09:00:07 - Source: Shafaq News

Shafaq News / The U.S. Department of the Treasury announced that Iraq has advanced one spot among the largest foreign holders of U.S. Treasury bonds.

According to the Treasury's latest report, Iraq has climbed one position despite a decrease in its bond holdings for the month of July, amounting to $400 million, reaching the 36th rank among the largest countries holding U.S. Treasury bonds, with a total of 38 nations listed in the table.

It further detailed that Iraq's holdings of these bonds amounted to $32.6 billion for the month of July, marking a 1.21% decrease compared to June when Iraq held $33 billion in bonds. This represents a 6.12% decrease from June in the year 2022.

The Treasury also noted that Iraq ranks as the fourth-largest Arab country in terms of U.S. Treasury bond holdings, following Saudi Arabia, the United Arab Emirates, and Kuwait. Japan leads the list of the largest bond-holding nations with $1.112 trillion, followed by China at second place with $821 billion, the United Kingdom in third place with $662 billion, Luxembourg in fourth place with $349 billion, and Belgium in fifth place with $318 billion.

Furthermore, the report highlighted that the total bond holdings for countries worldwide increased by $103 billion compared to the previous month of June, reaching a staggering $7.654 trillion.

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