The Lebanese financial sector’s net foreign assets narrowed by $5.6 million in May of the current year in comparison with a contraction of $62.3 million in April, a drop of $463.5 million in March, an increase of $2,099.7 million in February and a contraction of $461.5 million in January. May’s figures can be attributed to an $11.0 million decrease in the net foreign assets of banks & financial institutions which outweighed the $5.4 million rise in the net foreign assets of the Central Bank. On a cumulative basis, the financial sector’s net foreign assets soared by $1,231.3 million during the first five months of 2023 in comparison with a drop of $2,105.1 million in the same period in 2022. The increase in the financial sector’s net foreign assets owes to some $2,009.5 million expansion in the net foreign assets of banks & financial institutions which outweighed the $778.2 million decrease in the net foreign assets of the Central Bank.