India’s US debt exposure jumps to $38.5 bn in April ’09

India’s US debt exposure jumps to $38.5 bn in April ’09
PTI
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First Published: Sun, Jun 21 2009. 02 16 PM IST
Updated: Sun, Jun 21 2009. 02 16 PM IST
Washington: Notwithstanding the deteriorating American economic conditions, India has increased its holding of US debt securities nearly four-fold since May last year to $38.5 billion till April 2009.
India’s holding of these securities has jumped from just $10.3 billion in May 2008.
The latest figures from the US Treasury Department reveal that India has purchased debts to the tune of $38.5 billion as of April 2009.
Interestingly, India’s buying of American debts has spurted since October last year when the economic turmoil turned for the worse. In September 2008, the bankruptcy of Lehman Brothers pushed the American financial system deeper into the crisis.
In October 2008, India held American debt securities to the tune of $18.3 billion.
Among the other nations, China has the maximum exposure worth $763.5 billion till April. Next to China is Japan with American securities holding worth $685.9 billion.
Meanwhile, the Bric nations - Brazil, Russia, India and China -- together have American debt of little over $1 trillion.
Out of the four countries, India has the least exposure to US debt. Till April this year, Russia and Brazil purchased these securities to the tune of $137 billion and $126 billion, respectively.
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First Published: Sun, Jun 21 2009. 02 16 PM IST
More Topics: US | Debt | Securities | India | Bric |