After two consecutive months of increase, the country’s Net International Reserves (NIR) fell by 3% or US$60 million from US$2,181.53 to US$2,121.49 at the end of August.
The decline was mainly due to the payment of US$83.75 million on the debt owed to the International Monetary Fund (IMF) during August.
The NIR remains ample as it can purchase 26.68 weeks of Goods & Services based on the estimated value of imports for the 2014/2015 fiscal year.
diGJamaica’s Economy Dashboard has more information including two-year comparisons of Jamaica’s Net International Reserves. Check it out here.