US Treasury reports Iraq's bond holdings surge to $33 billion after four-month decline

Shafaq News/ Iraq's holdings of US Treasury bonds have surged to approximately $33 billion, signaling a notable recovery after experiencing four consecutive months of decline, according to a report released by the US Treasury Department on Thursday.

The latest figures from the Treasury reveal that Iraq's ownership of US Treasury bonds witnessed a robust $300 million increase in June 2023, rising from the previous month's total of $32.7 billion. This represents a growth rate of 3.12% compared to the same period in the previous year, during which Iraq's bond holdings amounted to $32 billion.

Amongst Arab nations, Saudi Arabia emerges as the frontrunner with the largest bond holdings at $108.1 billion, followed by the UAE with $65.2 billion and Kuwait with $40.6 billion. Iraq secures the fourth position, while Oman rounds out the top five with bond holdings totaling $7.061 billion.

On a global scale, Japan is the largest holder of US bonds, boasting an impressive $1.105 trillion, trailed by China with $835.4 billion, the United Kingdom with $672.3 billion, and Belgium with $332.4 billion.

The cumulative value of US Treasury bonds for June reaches approximately $7.563 trillion, representing a noteworthy increase of 1.97% compared to the same month in the preceding year when the total stood at $7.417 billion. Furthermore, the growth continues on a monthly basis, registering an uptick of about 0.56% from $7.521 trillion recorded in May 2023.