Saudi T-bill sell-off is ‘normal cash flow’ plan

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Sat, 2021-01-23 19:23

DUBAI: A fall in the holdings of US Treasury bills by Saudi Arabia in 2020 was the result of normal investment management strategy during the volatile market conditions sparked by the COVID-19 pandemic, according to leading economists.

Figures released by the Treasury showed big drops in the Kingdom’s multi-billion dollar holdings of American gilt-edged investments, down $61 billion between March and May to stand at $123.5 billion. Saudi T-bill holdings have since picked up to $137.6bn at the end of last November.

Figures released by the Treasury showed big drops in the Kingdom’s multi-billion dollar holdings of American gilt-edged investments. (Shutterstock/File Photo)
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