Jamaica’s Net International Reserves (NIR) Continue to Increase

• Jamaica's Net International Reserves (NIR) climbed US$6.15Bn at the end of August 2025, reflecting a 22.9% increase compared to August 2024.
• A 21.6% rise (US$1.10Bn) in total foreign assets, coupled with a 63.2% reduction (US$49.50Mn) in foreign liabilities, were the primary drivers of the improvements.
• The increase in foreign assets was largely driven by a 53.0% growth in Securities (US$854.60Mn) and a 929.9% rise in Special Drawing Rights (SDRs), totalling US$197.61Mn, and an increase in Currency & Deposits of US$44.60Mn.
• Jamaica’s NIR remains relatively high, equating to 30.7 weeks of goods & services imports (25.3 weeks at the end of August 2024). At this level, the NIR is more than 2.7 times the international benchmark of 12 weeks of imports and should provide a solid buffer in the case of a major shock.

(Sources: BOJ and NCBCM Research)