Iraq reduces its holdings of US bonds by $400 million

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Iraq reduces its holdings of US bonds by $400 million

The US Treasury Department announced on Tuesday that Iraq’s possession of US bonds decreased by $400 million to approximately $32.6 billion in July.

According to the latest table released by the Treasury, Iraq’s possession of US Treasury bonds decreased by $400 million in July 2023, bringing the total to $32.6 billion as compared to $33 billion in the previous month. This indicates a decrease of 6.12% as compared to the same period in 2022 when Iraq held bonds worth $34.6 billion.

When it comes to possession in the Arab world, Saudi Arabia ranks first with a total of 109.2 billion dollars. The United Arab Emirates takes the second place with 64.9 billion dollars, followed by Kuwait in the third place with 42.5 billion dollars. Iraq is fourth with Oman taking the fifth position with 7.061 billion dollars.

Japan holds the most US bonds with $1.112 trillion, followed by China with $831.8 billion, the United Kingdom with $662.4 billion, and Luxembourg with $349.9 billion.

In July of 2021, the total value of US Treasury bonds was approximately $7.563 trillion. This marks an increase of 1.04% from the same period last year when the total value was $7.463 billion.