The investments of the Gulf Cooperation Council countries in US treasury bills and bonds fell by 14.1% on a monthly basis last March to $ 239.8 billion.
This was driven by collective sales with the outbreak of the Corona virus, which lost oil, the main source of income for the Gulf Cooperation Council countries, about two thirds of its value in the worst quarterly performance historically.
The GCC countries ’investments in US treasury bills and bonds amounted to $ 279 billion until February.
The US Treasury Department data released on Sunday showed that Saudi Arabia remained the largest holder of US Gulf bonds with investments exceeding 159 billion dollars until the end of March, compared to 184.4 billion dollars until the end of February.
Kuwait ranked second with a total investment of $ 40.1 billion, compared to $ 43.6 billion in the previous month.
The UAE ranked third with a total investment of $ 28 billion, then Oman with $ 6.4 billion, a drop of $ 4.7 billion, and Bahrain topped the list with $ 1.5 billion.
What the US Treasury declares in its monthly statements are Gulf countries' investments in US treasury bills and bonds only, and it does not include other investments in the United States, whether governmental or private.
The total value of global investments in US treasury bills and bonds fell until the end of last March, 3.6%, to about 6.8 trillion dollars, compared to more than seven trillion dollars in the previous month.