Figures issued by Banque du Liban (BdL) show that the net foreign assets of the financial sector, which are a proxy for Lebanon's balance of payments, increased by $5.37bn in the first quarter of 2025, compared to a decrease of $1.61bn in the same period of 2024 and an increase of $1.17bn in the first quarter of 2023.  The cumulative surplus in the first quarter of 2025 was caused by increases of $4.38bn in the net foreign assets of BdL and of $540.3m in those of banks and financial institutions. Further, the net foreign assets of the financial sector rose by $2.24bn in March 2025 compared to increases of $919.1m in February 2025 and of $1.63bn in March 2024. The March increase was caused by a surge of $2.15bn in the net foreign assets of BdL and by an increase of $90.9m in those of banks and financial institutions.  The cumulative rise in BdLꞌs net foreign assets reserves in first quarter of 2025 is due mainly to increases of $4.24bn in BdL's gold reserves and of $592m in its foreign currency reserves. Also, the slow pace of increase in the banks' net foreign assets in the covered period is mostly due to the improvement in their foreign liabilities, driven mainly by increases of $382m in claims on the non-resident financial sector, of $87.94m in non-resident customer deposits, and of $75.82m in non-resident financial sector liabilities.  BdL said that it started in January 2024 to include monetary gold, the non-resident foreign securities held by BdL, and the foreign currencies & deposits with correspondent banks and international organizations as part of its foreign assets; while it excluded the Lebanese  government's sovereign bonds and its loans in foreign currency to resident banks and financial institutions from the entry. It attributed the modifications to its adoption of the IMF’s methodology as stipulated in the latter’s Sixth Edition of the Balance of Payments and International Investment Position Manual and in the Monetary & Financial Statistics Manual & Compilation Guide. It added that the changes are in line with the BdL Central Council's Decision Number 37/20/24 on September 13, 2024. (ICE BEIRUT)

Fonte notizia: Byblos Bank, May 12 - 17, 2025