NIR Down Another 2% In April

Net International Reserves retreated again in April, down by 2% to end the month at US$866.18 million. This amount of reserves is now sufficient to cover 16 weeks of goods imports, an increase over last month due to a technical revision in the way this is calculated.

This is still the lowest amount of reserves since November 2000. Click on this link to see the Image and the accompanying Motion Chart.

diGJamaica.com is anticipating the May NIR report as it will indicate the changes in the IMF loan liabilities. Yesterday, we blogged that the first repayment under the 2010 Stand-By Arrangement (SBA) was due on May 8, only a few days after the first tranche of the new 2013 Extended Fund Facility (EFF) had been received. These receipts, and repayment should be reflected in May’s NIR report. diGJamaica.com will soon become your source for all things IMF…jamaica_net_international_reserves

Source: Bank of Jamaica