Incoming capitals drop by 25 percent

Balance of payments posts deficit of $480 million in first half of 2011

August 11, 2011- The balance of payments posted a deficit of $479 million in the first half of 2011 compared to a surplus of $1.3 billion for the corresponding period last year. The drop was stirred by an annual drawback of 25 percent in incoming capitals during the first half of the year.

The cumulative deficit over the first six months of 2011 was caused by a deficit of $444 million in the Central Bank's net foreign assets and a deficit of $35 million in those of banks and financial institutions.

The balance of payments posted cumulative surpluses of $3.3 billion in 2010, $7.9 billion in 2009, and $3.5 billion in 2008.