Net International Reserves at Lowest Since January 2001

Jamaica’s Net International Reserves (NIR) lost another 10% in January 2013 after the small spike to end 2012. The nation’s international savings now stands at just over US$1.009 Billion. This is just enough cash to cover 12.5 weeks of Goods & Services Imports. The last time we saw this low a level of NIR was January 2001 when the number was US$931 Million.

Although we are nowhere near to the days of the early to mid 1990s when the NIR was negative, the chart below shows a worrying continuous downward trend…

jamaica_net_international_reserves

Source: Bank Of Jamaica

 See accompanying Motion Chart here

While the US$ dollar selling rate trends up

jamaica_exchange_rates_monthly

Source: Bank Of Jamaica

Posted in Business, Economy, News Tagged with: , ,

Follow Me

Sign Up For Our Newsletter

Like diGJamaica on Facebook

Archives

Read previous post:
5 Facts: Malaria

It's Five Facts Friday! In this Gleaner video from two days ago, the Health Minister Dr Fenton Ferguson has sought to calm fears...

Close