October 11, 2022
BOJ has reported that Jamaica’s Net International Reserves as at September 30, 2022 stood at US$3,807.30 million, reflecting an increase of US$56.49 million when compared to the US$3,750.81 million reported at the end of August 2022.
Foreign Assets totalled US$4,349.51 million, US$28.36 million more than the US$4,321.15 million reported in August 2022. ‘Currency & Deposits’ held by the BOJ as at September 30, 2022 totalled US$2,630.16 million, reflecting an increase of US$40.36 million compared to the US$2,589.80 million reported in August 2022.
‘Securities’ were valued at US$1,540.42 million; US$9 million less than the US$1,549.42 million reported at the end of August 2022. The country’s ‘Special Drawing Rights & IMF Reserve Position’ fell to US$178.94 million from the US$181.94 million reported last month. Liabilities to the IMF were reduced by US$28.13 million to US$542.21 million against the US$570.34 million reported at the end of August 2022.
At its current value, the nation’s international reserve is $156.92 million, or 4% less than the $3,964.22 million held by the BOJ on September 30, 2021. The current NIR supports approximately 36.32 weeks of goods imports and 24.19 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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