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Russia solving America's debt problem... by dumping US Treasury securities Russia solving America's debt problem... by dumping US Treasury securities
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Once a top investor in US Treasuries, Russia continued in May with a reduction of its holdings to almost $12 billion, the lowest figure in 12 years, according to recent data published by the US Treasury Department. Once a top investor with over $170 billion in US Treasury bills, Russia continued reducing its holdings of US debt in May to almost $12 billion, according to recent data published by the US Treasury Department.
Russia’s stockpile of Treasury bills fell by more than $100 million in one month to $12.024 billion, $5.25 bn of which is in long-term securities.Russia’s stockpile of Treasury bills fell by more than $100 million in one month to $12.024 billion, $5.25 bn of which is in long-term securities.
The figure was lower only in May 2007, when Russia held $11.8 billion of US Treasury bonds.
Moscow accelerated dumping US debt last year, when it reduced its holdings by more than 85 percent, from $96.9 billion in January to $13.2 billion in December. The biggest reduction came it April and May, when the country reduced its stockpile by around $81 billion.Moscow accelerated dumping US debt last year, when it reduced its holdings by more than 85 percent, from $96.9 billion in January to $13.2 billion in December. The biggest reduction came it April and May, when the country reduced its stockpile by around $81 billion.
The selloff is even more dramatic since 2010, when Russia held US Treasury bonds worth over $170 billion.
US trade war rival China remains the largest foreign holder of American debt, but it continued to sell its holdings in May for a fourth month in a row. Beijing now has $1.11 trillion in US Treasury bills, down from nearly $1.113 trillion in April and more than 10 billion less than it had in March.US trade war rival China remains the largest foreign holder of American debt, but it continued to sell its holdings in May for a fourth month in a row. Beijing now has $1.11 trillion in US Treasury bills, down from nearly $1.113 trillion in April and more than 10 billion less than it had in March.
The second largest US debt holder, Japan, boosted its Treasuries holdings to $1.101 trillion, the highest in almost two years since August 2017, from the 1.064 trillion it held in April.The second largest US debt holder, Japan, boosted its Treasuries holdings to $1.101 trillion, the highest in almost two years since August 2017, from the 1.064 trillion it held in April.
This year the US national debt climbed above $22 trillion and this figure is expected to continue rising in the next three decades, reaching 144 percent of GDP by 2049, according to a recent analysis.This year the US national debt climbed above $22 trillion and this figure is expected to continue rising in the next three decades, reaching 144 percent of GDP by 2049, according to a recent analysis.
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