According to BDL’s latest monetary report, the BOP recorded a surplus of $363M by June 2024, far less than the surplus over the same period last year of $1,143M. Accordingly, Net Foreign Assets (NFAs) of BDL rose by $605M and the NFAs of commercial banks decreased by $242M by June 2024.
For a meaningful analysis, we examine the NFAs of commercial banks for the month of June 2024. On the liabilities side, “Non-resident financial sector liabilities” dropped by $21M to reach $2.66B; while “Non-resident customers’ deposits” decreased by 34.8M to reach $21.01B and “Non-resident debt securities” remained at $150M by June 2024. Meanwhile, on the asset side, “claims on non-resident financial sector” decreased by $14.4M to reach $4.4B for the same period, “other foreign assets” increased by $21M to stand at $2.49B, “Non-resident securities portfolio” decreased by $2.8M recording $704M, and “claims on non-resident customers” decreased by $3.3M to reach $937M.
Balance of Payments (BoP) by June 2024 (in $M)
Source: BDL, BLOMINVEST
BY: Mira Said
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