UAE – Mubasher: The UAE has lowered its holdings of the US Treasury bonds in March 2020, for the third consecutive month, by nearly 25% month-on-month (MoM) or $9.3 billion, according to the latest data by the US Department of the Treasury.
The UAE's purchases of the US Treasury bonds declined to $28.03 billion in March, compared to around $37.3 billion in February.
In January and February, the UAE lowered its investments in US debt instruments by $3.4 million, bringing the total reduction amount in the first three months of 2020 to $12.7 billion.
On the other hand, the UAE's holdings of US bonds rose to $40.7 billion in December 2019.
On an annual basis, the UAE decreased its purchases of the US treasury bonds by 49.6% or $27.57 billion in March 2020, versus $55.6 billion in the same period of 2019.
At the level of Arab states, the UAE maintained its third place among the holders of the US debt instruments after Kuwait, while Saudi Arabia topped the list with holdings of $159.1 billion in March, down by 13.7% from $184.4 billion in February.
Globally, Japan topped the holders with $1.272 trillion, followed by China with $1.082 trillion.
