According to BDL’s latest monetary report, the BOP recorded a surplus of $390.6M by February 2024, far less than the surplus over the same period last year of $1,638.1M. Accordingly, Net Foreign Assets (NFAs) of BDL rose by $264.9M and the NFAs of commercial banks rose by $125.7M by February 2024.
For a meaningful analysis, we examine the NFAs of commercial banks. For the month of February, as BDL adopted the 89,500 LBP/USD, 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” dropped remarkably by 17.78% to reach $2.73B, in addition “Non-resident customers’ deposits” fell by 2.36% to reach $20.96B by February 2024. Meanwhile, on the asset side, “claims on non-resident financial sector” increased by 5.87% to reach $4.37B for the same period, while claims on non-resident customers dropped by 25.5% to reach $936M.
Balance of Payments (BoP) by February 2024 (in $M)
Source: BDL, BLOMINVEST
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