According to the balance sheet of Banque du Liban (BDL), the central bank’s total assets added 4.11% compared to last year, to reach $161.13B by mid of October 2021.The increase was mainly due to the 30.68% year-on-year (YOY) rise in other assets, grasping 34.47% of BDL’s total assets and reaching $58.76B by mid of October 2021. However, the gold account, composing 10.29% of BDL’s total assets, decreased by 4.99% yearly to reach $16.58B by the same period.
BDL’s foreign assets (grasping 11.65% of total assets) decreased by 26.95% YOY to stand at $18.77B by mid of October 2021. In details, this account mostly includes Eurobonds held by the Central Bank, and reserves that BDL possesses with foreign correspondents. However, Eurobonds are currently trading on average at 15 percent per dollar while they are registered with a larger value on the Central Bank’s balance sheet. Noting also that BDL received more than $1.1 B in IMF’s SDR in September 2021.
On the liabilities front, financial sector deposits (66.12% of BDL’s total liabilities) recorded a downtick of 1.15% YOY to settle at $106.54B by mid of October 2021, of which more than two thirds are denominated in dollars.
Looking at Currency in Circulation outside of BDL (17.43% of BDL’s total liabilities) it increased by 69.40% jumping from $16.58B by mid of October 2020 to $28.09B mid of October 2021.
BDL Total, Foreign assets and Currency in Circulation mid of October ($B)
Source: BDL, BLOMINVEST