BDL Acting Governor: BDL Liquid FX Reserve Assets at $8.573 Billion

A statement issued on 17/8/2023 by Acting BDL Governor, Dr Wassim Mansouri, claimed that BDL liquid FX reserve assets stood at $8.573 billion at end July 2023. The distribution of assets is as follows:

Liquid FX Reserve AssetsUSD Million
Current Accounts3,114
Time Accounts3,711
Financial Securities218
Eurobonds at market value387

Against the above liquid FX reserve assets, the statement listed liquid FX reserve liabilities of $1.270 billion as follows:

Liquid FX Reserve LiabilitiesUSD Million
Public Sector deposits in Fresh USD275
Banks’ deposits in Fresh USD8
SDR balance available for use125
Open Credits by BDL96
Loans from Official Arab sources660
Deposits from Official Arab sources106

The statement added that BDL, based on Central Council Decisions, is committed not to spend from the reserve requirements of banks, which the above BDL’s FX reserve assets represent. Exceptions will be to pay back the listed FX reserve liabilities and the payments to meet Circular 158.

Welcome to the new BDL! Will this change in policy be the harbinger for changes and reforms all over? We are keeping our fingers crossed.

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