By: Ahmed Allam
Cairo – Mubasher: Egypt’s holdings of US Treasuries increased in June for the sixth successive month.
The North African nation’s holdings of US debt instruments grew by $13 million, or 0.6%, to $2.151 billion in June, compared to $2.138 billion in May, according to data released by the US Treasury Department.
Year-on-year, Egypt’s holdings of US Treasuries went up 2.1% from $2.107 billion in June 2018.
Since the beginning of 2019, the most populous Arab nation has increased its holding of US Treasuries by $49 million, or 2.3%, from $2.102 billion at the end of 2018.
Saudi Arabia topped Arab holders of US Treasuries at a value of $179.6 billion, followed by the UAE with $51.5 billion, while Kuwait came in the third place with $44.4 billion.
Globally, Japan was the largest holder of US Treasuries with investments worth $1.122 trillion, followed by China and the UK with $1.112 trillion and $341.1 billion, respectively.
