The net foreign assets of the Lebanese financial sector recorded a decline of 3,046.4 million dollars during the seventh month of the current year 2020, compared to a contraction of 295.8 million dollars in June and a decline of more than 887.7 million dollars in the month of May.
These figures came in July as a result of a decrease in the net foreign assets of the Banque du Liban by $2.78 billion, in conjunction with a decline in the net foreign assets of banks and financial institutions by an amount of $266.5 million.
On a cumulative level, the net foreign assets of the Lebanese financial sector shrank by about $5.53 billion during the first seven months of the current year 2020, compared to a decrease of $5.32 billion during the same period last year.
The reason for this decline is the deterioration in the net foreign assets of the Banque du Liban by $7.21 billion until July, which overshadowed the increase in net foreign assets of banks and financial institutions by about $1.68 billion.
Source (Al-Jumhuriya Newspaper-Lebanon, Edited)
