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Russia to Lower U.S. Debt Holdings

Posted By kurtnimmo On June 20, 2011 @ 7:04 am In Economic Crisis,Tile | Comments Disabled

IRA IOSEBASHVILI
The Wall Street Journal
June 20, 2011

ST. PETERSBURG, Russia—Russia will likely continue lowering its U.S. debt holdings as Washington struggles to contain a budget deficit and bolster a tepid economic recovery, a top aide to President Dmitry Medvedev said Saturday.

“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 the president, told Dow Jones in an interview on the sidelines of the St. Petersburg International Economic Forum.

Russian holdings of U.S. Treasury securities fell to $125.4 billion in April 2011 from $176.3 billion in October 2010, Treasury Department data showed.

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