Bank of Jamaica Net International Reserves Improves in December 2018

• At the end of December 2018, The Bank of Jamaica’s Net International Reserves (NIR) stood at US$3,005.41Mn (+3.7% or US$106.91Mn), which translates to   32.80 (+0.99) weeks of Goods Imports or 19.47 (+0.59) weeks of Good and Services Imports.

 

• The improvement in the BOJ’s NIR was primarily due to fact that it increased its holdings of Foreign Assets while keeping its Foreign Liabilities relatively constant.

 

• In particular, the Bank held Currency & Deposits of US$2,960.02Mn at the end of December 2018, representing an increase of US$100.29Mn when compared with the US$2,859.73 reported the previous month.

 

• On the other hand, amounts owed to the IMF, which was the Banks’ only liability item, increased marginally from US$526.07Mn at the end of November 2018 to US$526.63 at the end of December 2018.

 

(Source: BOJ)