Net International Reserves now at US$3.88 billion or 46.13 weeks of goods imports

Jamaica’s Net International Reserves (NIR) totalled US$3.88 billion as at August 2021, reflecting an increase of US$529.13 million relative to the US$3.35 billion reported at the end of July 2021.

Foreign Assets totalled US$4.78 billion, US$526.29 million more than the US$4.25 billion reported for July 2021. Currency & Deposits contributed the most to the increase in Foreign Assets.

Currency & Deposits as at August 2021 totalled US$3.73 billion reflecting an increase of US$17.77 million compared to US$3.71 billion booked as at July 2021. Securities amounted to US$326.75 million, which is US$2.99 million more than the US$323.75 million reported at July 2021.

At the same time Special Drawing Rights and International Monetary Fund (IMF) reserve position jumped to US$722.10 million, which is US$505.52 million more than the US$216.59 million reported at July 2021.

Liabilities to the IMF accounted for 100 per cent of total Foreign Liabilities, which amounted to US$895.81 million. This reflected a month-on-month decline of US$2.84 million in comparison to the US$898.65 million recorded for July 2021.

At its current value, the NIR is US$1.13 billion more than its total of US$2.75 billion reported at the end of August 2020. The current reserve is able to support approximately 46.13 weeks of goods imports and 32.92 weeks of goods and services imports.