Headline: Russia to Reduce U.S. Debt Holdings
A top Russian economic official says his country is likely to continue decreasing the share of its portfolio that consists of U.S. debt, according to a published media report.
"The share of our portfolio in U.S. instruments has gone down and probably will go down further," said Arkady Dvorkovich, chief economic aide to Russian President Dmitry Medvedev, according to a report on The Wall Street Journal’s Web site.
Dvorkovich made the comments on the sidelines of the St. Petersburg International Economic Forum, the report said.
Foreign countries’ interest in purchasing U.S. debt has become an important concern as the U.S. government is running large deficits and must finance them by selling Treasuries. A weakening appetite for Treasuries would drive up the cost of Washington’s borrowing.
Source: jsmineset.com
