Cayman remains one of US’ top creditors

| 25/05/2009

( Recently the Department of the Treasury / Federal Reserve Board updated its list of the major foreign holders of Treasury Securities. As of March this year China is still the largest holder of U.S. debt but number three is a group which group includes the Bahamas, Bermuda, Cayman Islands, Netherlands, Antilles, Panama and British Virgin Islands. These islands channel huge amount of wealth into the U.S. due to their tax shelter status. They are ahead of many countries such as the UK, Russia, etc with a total of $213B.

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