September 14, 2022
BOJ has reported that Jamaica’s Net International Reserves as at August 31, 2022 stood at US$3,750.81 million, reflecting an increase of US$90.26 million when compared to the US$3,660.55 million reported at the end of July 2022.
Foreign Assets totalled US$4,321.15 million, US$77.78 million more than the US$4,243.37 million reported in July 2022. ‘Currency & Deposits’ held by the BOJ as at August 31, 2022 totalled US$2,589.80 million, reflecting a decrease of US$183.76 million compared to the US$2,773.56 million reported in July 2022.
‘Securities’ were valued at US$1,549.42 million; US$269.80 million more than the US$1,279.61 million reported at the end of July 2022. The country’s ‘Special Drawing Rights & IMF Reserve Position’ fell to US$181.94 million from the US$190.20 million reported last month. Liabilities to the IMF were reduced by US$12.48 million to US$570.34 million against the US$582.82 million reported at the end of July 2022.
At its current value, the nation’s international reserve is US$137.86 million, or 4% less than the US$3,888.67 million held by the BOJ on August 31, 2021. The current NIR supports approximately 36.08 weeks of goods imports and 24.04 weeks of goods and services imports.
The Bank of Jamaica (BOJ) boasts that the government has sufficient gross and net foreign reserves to pay its debts, protect against exogenous shocks, and handle short- to medium-term unforeseen circumstances.
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