Central Bank Reserves Slip By $60M

Nir Annoucement 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. net_international_reserves

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diGJamaica’s Economy Dashboard has more information including two-year comparisons of Jamaica’s Net International Reserves. Check it out here.