According to BDL’s latest monetary report, the BOP recorded a surplus of $259.4M by January 2024, far beyond the deficit over the same period last year of $461.5M. Accordingly, Net Foreign Assets (NFAs) of BDL rose by $62M and the NFAs of commercial banks rose by $197.5M by January 2024.
For a meaningful analysis, we examine the NFAs of commercial banks. For the month of January, it was reflected by the decrease in both foreign assets and foreign liabilities, but more so for the latter. On the liabilities side, “Non-resident financial sector liabilities” decreased by $172.75M, to reach $2.71B and “Non-resident customers’ deposits” fell by $157.63M, to reach $20.98B by January 2024. Meanwhile, on the asset side, “claims on non-resident financial sector” fell by $63.08M to reach $4.4B for the same period, claims on non-resident customers dropped by $11.88M to reach $969M, and other foreign assets declined by $43.83M to stand at $2.43B by January 2024.
Balance of Payments (BoP) by January 2024 (in $M)
Source: BDL, BLOMINVEST
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