According to BDL’s latest monetary report, the BOP recorded a surplus of $1.24B by April 2023, far exceeding the deficit over the same period last year of $1.7B. Accordingly, Net foreign Assets (NFAs) of BDL fell by $783.6M, as BDL has continued to make some intervention on Forex market through the “Sayrafa” rate while the NFAs of commercial banks rose by $2.02B by April 2023.
For a meaningful analysis, we examine the NFAs of commercial banks. For the month of April as BDL adopted the 15,000 LBP/USD official rate, it was equal to $15.8M and dominated by the increase in foreign assets more than that of foreign liabilities. In more details, on the liabilities side, “Non-resident financial sector liabilities” rose by 1.78% to reach $3.23B, in addition “Non-resident customers’ deposits” rose by 0.23% to reach $21.53B by April 2023. Furthermore, on the asset side, claims on non-resident financial sector increased by 1.94% to reach $4.2B by April 2023. It is interesting also that in the month of April 2023 the NFAs of BDL stood at $46.5M despite interventions in the Sayrafa market that reached up to $1.2B.
Balance of Payments (BoP) by April 2023 (in $M)
Source: BDL, BLOMINVEST
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