The Central Bank of Belize says from January to September this year, the broad money supply in the country grew by $280.8 million dollars, driven by a substantial rise in the net foreign assets of the banking system, while net domestic credit declined.
In its Monthly Economic Highlights for September, the central bank said during the nine-month period, the banking system's net foreign assets rose by $326.1 million.
This growth was largely attributed to a $258.8 million increase in the net foreign assets of domestic banks, which climbed to $909.9 million, spurred by heightened tourism earnings and rising inward foreign investments.
Additionally, the Central Bank's net foreign assets rose by $67.3 million due to increased foreign currency purchases from domestic banks and a major sugar exporter.
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