Saudi Arabia increases weighting in JPMorgan bond index

Saudi Arabia increased its weighting in the JPMorgan Emerging Market Bond Index by more than a percentage point over the past year after it issued more debt; Al Eqtisadiah reported.

The Kingdom’s weight in the index rose by 1.04 points to 3.90 percent; the fourth highest after Mexico; Indonesia and China; the newspaper said; citing a JPMorgan spokeswoman.

The dollar-denominated index included $80.6 billion of Saudi debt as of the end of the first quarter of 2021. Assets of more than $341 billion follow the benchmark index.