Russia Is One of 10 Biggest Creditors of the U.S.
Kommersant – September 1, 2008
Russia ranks the eighth in the list of the U.S. creditors, according to Finance magazine. The RF share in the U.S. state debt was 2.5 percent ($65.3 billion) as of June 30, 2008.
Japan ($583 billion) and China ($503 billion, less the debt to Hong Kong and Macao) are the key creditors for the United States, accounting for over 40 percent of the state debt on aggregate. What’s more, the debt to China goes up by 25 percent a year.
Other major creditors of the United States are Britain, Luxembourg, Hong Kong, Switzerland, states of Caribbean offshore zone and the oil-exporting states, including Venezuela, the United Arab Emirates, Ecuador, Iran, Iraq, Kuwait, Oman and others.
With the private sector taken into account, the U.S. foreign debt totaled $13.77 trillion as of early April, while the country’s GDP is projected to equal $14.4 trillion this year. The U.S. foreign debt didn’t exceed $6.95 trillion in 2003.
The share of foreign governments in the U.S. state debt widened from 52.6 percent in 2003 to 73.9 percent in 2007.
Last updated 04/09/2008