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Saudi Arabia has no fear of its investments in U.S.

Xinhua, November 15, 2016 Adjust font size:

Saudi Arabia expressed no fear of its investments in the United States on Monday, yet dismissed any intention to end the dollar peg, reported Al Eqtisadiya online news.

The Governor of the Saudi Arabian Monetary Agency (SAMA), Ahmed Al Khalifi, told the news portal that the newly elected U.S. President, Donald Trump, or the Justice Against Sponsors of Terrorism Act (JASTA), won't influence Saudi's investment decisions in America.

The SAMA governor's remarks came to end speculations about Saudi Arabia's plans to change its investment policy in the U.S. after Trump's presidential victory.

Trump had made hostile comments toward various countries, including Saudi Arabia, as well as the passing of JASTA which allows victims of the Sept. 11 attack to sue Saudi Arabia.

The announcement was made while the country is taking massive steps to diversify its economy in order to make it less oil-revenue-dependent following the sharp drop in oil prices in international markets. Endit