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Balance of payments: External Funding Decreases By CFA 162 Billion In Q2 2024.

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This information is disclosed by the Ministry of Finance, as reported in the December 2024 Balance of Payments Technical Committee report.

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External financing totaled 539 billion CFA francs in Q2 2024, representing a decrease of 162 billion CFA francs compared to the same period in 2023, when external financing reached 701 billion CFA francs.The decrease is attributed to a decline in net external financing to the non-bank private sector and an increase in assets, as stated in the document.External financing for the non-banking private sector stood at 261 billion CFA francs in the second quarter of 2024, compared to 328 billion CFA francs in the same period in 2023, representing a decrease of 67 billion CFA francsAccording to the committee's estimates, non-banking private sector financing could reach 564 billion CFA francs.Foreign direct investments are projected to reach 603 billion CFA francs, compared to 547 billion CFA francs in 2023.The Balance of Payments Technical Committee also reports that the overall balance resulting from all transactions with the exterior in the second quarter of 2024 shows a surplus of 10.0 billion, compared to a deficit of 114.6 billion  the previous year.The committee projects that external financing could reach 10,20 billion CFA francs by the end of 2024, compared to 938 billion CFA francs for the entire year 2023, representing an increase of 82 billion CFA francs.

 

Christelle koambi.

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