According to BDL’s latest monetary report, the BOP recorded a surplus of $786.1M by May 2024, far less than the surplus over the same period last year of $1,231.3M. Accordingly, Net Foreign Assets (NFAs) of BDL rose by $562.7M and the NFAs of commercial banks rose by $223.4M by May 2024.
For a meaningful analysis, we examine the NFAs of commercial banks for the month of May 2024. On the liabilities side, “Non-resident financial sector liabilities” dropped by $75M to reach $2.68B; while “Non-resident customers’ deposits” rose by 111.9M to reach $21.05B and “Non-resident debt securities” increased by $117.7M to stand at $150M by May 2024. Meanwhile, on the asset side, “claims on non-resident financial sector” rose by $9.1M to reach $4.42B for the same period, “other foreign assets” increased by $47.7M to stand at $2.47B, “Non-resident securities portfolio” rose by $24.3M recording $706M, and “claims on non-resident customers” rose by $2.4M to reach $940M.
Balance of Payments (BoP) by May 2024 (in $M)
Source: BDL, BLOMINVEST
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