Balance of Payments Deficits at $461.5M by January 2023, up by 31% since last year

According to BDL’s latest monetary report, the BOP recorded a deficit of $461.5M by January 2023, far exceeding the deficit over the same period last year of $353M. Accordingly, Net foreign Assets (NFAs) of BDL fell by $260.9M, as BDL has continued to make some intervention on Forex market through the “Sayrafa” rate while the NFAs of commercial banks dropped by $200.6M by January 2023.

For a meaningful analysis, we examine the NFAs of commercial banks. For the month of January, it was dominated by the decrease in foreign assets and a rise in foreign liabilities. On the liabilities side, “Non-resident financial sector liabilities” increased by $57M, to reach $4.37B, while “Non-resident customers’ deposits” fell by $54.8M, to reach $23.34B by January 2023. Meanwhile, on the asset side, “claims on non-resident financial sector” fell by $36M to reach $4.16B for the same period, and claims on non-resident customers dropped by $117M to reach $1.92B. However, other foreign assets added $27.8M to stand at $2.52B by January 2023.

Balance of Payments (BoP) by January 2023 (in $M)

Balance of Payments Deficits at $461.5M by January 2023, up by 31% since last year

Source: BDL, BLOMINVEST

 

 

Disclaimer :

This article is a research document that is owned and published by Blominvest Bank SAL.

No material from this publication may be modified, copied, reproduced, repackaged, republished, circulated, transmitted or redistributed directly or indirectly, in whole or in any part, without the prior written authorization of Blominvest Bank SAL.

The information and opinions contained in this document have been compiled from or arrived at in good faith from sources deemed reliable. Neither Blominvest Bank SAL, nor any of its subsidiaries or affiliates or parent company will make any representation or warranty to the accuracy or completeness of the information contained herein.

Neither the information nor any opinion expressed in this research article constitutes an offer or a recommendation to buy or sell any assets or securities, or to provide investment advice.

This research article is prepared for general circulation and is circulated for general information only.

Leave a Reply

Your email address will not be published. Required fields are marked *