Foreign investors purchased a record €56 billion worth of bonds issued by the federal government and other public entities in 2024, L’Echo newspaper reported on Tuesday.
This amount is two to five times more than in previous years, according to figures from the National Bank.
By the end of last year, investors abroad held €390.8 billion in Belgian securities, representing 60.8% of the total debt. Short-term treasury bills are particularly popular, with 90% owned by foreigners.
Jean Deboutte, director of the Federal Debt Agency, acknowledges that the holding of Belgian debt by foreign investors seems higher than ever.
Last year, foreign central banks and sovereign wealth funds were major buyers, with commercial banks and wealth managers also actively participating in new government bond issues.
With 60.8% of its debt held by foreigners, Belgium ranks among the leaders in the Eurozone. Only Estonia, Lithuania, Austria, and Cyprus have a higher foreign-ownership share, according to the International Monetary Fund (IMF).
In comparison, foreign investors hold 52.9% of French debt, 47.3% of German debt, and 41.8% of Dutch debt.
