JEDDAH — Saudi Finance Minister Mohammed Al-Jadaan discussed with US Treasury Secretary Scott Bessent ways to further enhance financial and economic cooperation between the Kingdom and the United States. In a statement on his X account on Monday, Al-Jadaan said: "Today, I met with U.S. Treasury Secretary Scott Bessent, via video conference. We discussed bilateral relations between Saudi Arabia and the United States and ways to enhance them, as well as key global and regional financial and economic development." A statement issued by the US Department of the Treasury said Bessent pointed to the importance of joint collaboration in addressing challenges and new opportunities in the Middle East and globally. It is noteworthy that Saudi Arabia's holdings of US Treasury bonds rose by about 4.17 percent year-on-year to $137.5 billion in December 2024, compared to $132 billion in the same period in 2023, maintaining its 17th place among major holders of US bonds. According to data from the US Department of the Treasury, the Kingdom's holdings of bonds increased on a monthly basis by 1.4 percent, amounting to $1.9 billion, compared to $135.6 billion during November 2024. The data indicated that total foreign holdings of US Treasury bonds continued to grow by the end of December to more than $8.5 trillion, as it reached $7.9 trillion during the same period last year.
