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 Assets||USD Million|
|Eurobonds at market value||387|
Against the above liquid FX reserve assets, the statement listed liquid FX reserve liabilities of $1.270 billion as follows:
|Liquid FX Reserve Liabilities||USD Million|
|Public Sector deposits in Fresh USD||275|
|Banks’ deposits in Fresh USD||8|
|SDR balance available for use||125|
|Open Credits by BDL||96|
|Loans from Official Arab sources||660|
|Deposits from Official Arab sources||106|
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.