Economics
Saudi Arabia's Secret Holdings of U.S. Debt Are Suddenly a Big Deal
- Hiding data is “mind-boggling,” says former Treasury official
- Saudi burns through $100 billion of reserves as strains emerge
Statue of Alexander Hamilton stands in front of the U.S. Treasury.
Photographer: Chip Somodevilla/Getty ImagesThis article is for subscribers only.
It’s a secret of the vast U.S. Treasury market, a holdover from an age of oil shortages and mighty petrodollars: Just how much of America’s debt does Saudi Arabia own?
But now that question -- unanswered since the 1970s, under an unusual blackout by the U.S. Treasury Department -- has come to the fore as Saudi Arabia is pressured by plunging oil prices and costly wars in the Middle East.