NIR rose US$220.73 in March

Durrant Pate/Contributor

Jamaica’s Net International Reserves (NIR) has broken the US$4-billion barrier, continuing its upward trend last month.

The NIR grew by US$220.73 million to end March at US$4.15 billion, up from the US$3.93 billion posted during the previous month of February. 

At this level, the NIR can support 26.13 weeks of imports of goods and services, up from 24.94 weeks recorded in February.

The Bank of Jamaica (BOJ) saw a US$212.48 million increase in its foreign assets, which closed the month of March at US$4.68 billion, up from US$4.47 billion in February.

Foreign liabilities went down by US$8.25 million to US$532.21 million in March from the US$540.46 million indebtedness in the previous month of February.

All of the BOJ’s foreign liabilities were to the International Monetary Fund.