The Lebanese financial sector’s net foreign assets narrowed by $217.2 million in July of the current year in comparison with a contraction of $88.2 million in June, a drop of $5.6 million in May, an increase of $62.3 million in April and a drop of $463.5 million in March. July’s figures can be attributed to the $524.8 million drop in the net foreign assets of the Central Bank which outweighed the $307.6 million increase in the net foreign assets of banks & financial institutions. On a cumulative basis, the financial sector’s net foreign assets soared by $925.9 million during the first seven months of 2023 in comparison with a drop of $2,786.9 million in the same period in 2022. The year to date increase in the financial sector’s net foreign assets owes to some $2,385.0 million expansion in the net foreign assets of banks & financial institutions which outweighed the $1,459.0 million drop in the net foreign assets of the Central Bank.