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Turkey Follows Russia in Dropping Off Top U.S. Creditor List

  • Turkey’s holdings fell 42 percent in first half of this year
  • Russia lost status as major U.S. foreign creditor in May
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Turkey dropped off the U.S. government’s list of major owners of Treasury debt, following in the footsteps of Russia in reducing its portfolio.

Turkey’s holdings of bonds, bills and notes have fallen 42 percent in the first half of this year, dropping to $28.8 billion in June, according to a Treasury Department report released Wednesday. Treasury has a floor of $30 billion to be classified as a major holder.