Central Bank foreign assets drop $2.3 billion in 2018. Reserve adequacy well above average of similarly-rated countries

The value of foreign assets held by the Central Bank (BDL) dropped $2.3 billion last year to $39.7 billion. They fell a further $448 million this year, to $39.2 billion as of mid-February, according to BDL data.

The decline in foreign assets last year was mainly due to the redemption of three sovereign bonds denominated in foreign currencies totaling $2.23 billion, and to a wave of foreign currency conversions amid mounting uncertainties regarding the formation of a new Cabinet, according...

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