NIR went up to US$81.66 million to total US$3.58 billion

Jamaica’s net international reserves (NIR) is on the rise again.

As at February 2022, the NIR went up US$81.66 million to total US$3.58 billion, relative to the US$3.50 billion reported at the end of January 2022.

Foreign Assets totaled US$4.25 billion, which is US$76.01 million less than the US$4.33 billion reported in January 2022. ‘Currency & Deposits’ as at February 2022, totaled US$3.72 billion, reflecting an decrease of US$63.62 million compared to the US$3.79 billion reported in January 2022.

‘Securities’ were valued at US$330.20 million, which is US$6.75 million less than the US$336.94 million reported in January 2022. The country’s ‘Special Drawing Rights & IMF Reserve Position’ also fell, valuing US$200.81 million; US$5.64 million less than the US$206.46 million reported in January 2022.

Liabilities to the International Monetary Fund is now at US$670.31 million, which reflected a month on month decline of US$157.67 million in comparison to the US$827.98 million owed as at for January 2022.

At its current value, the nation’s NIR is US$573.12 million more than the US$3,016.18 million reported at the end of February 2021. The current reserve can support approximately 46.11 weeks of goods imports and 29.17 weeks of goods and services imports.