Jamaica’s Net International Reserves up 5.5% in December

• As of the end of December 2020, the Bank of Jamaica’s Net International Reserves (NIR) stood at US$3,126.13Mn, reflecting a 5.5% (US$163.37Mn) increase month-over-month.
• This increase can be explained by a 3.78% (or US$148.76Mn) increase in total foreign assets as well as a 1.51% (or US$14.61Mn) reduction in total foreign liabilities.
• Considering this increase, the reserves can now cover 53.95 weeks of goods imports and 38.81 weeks of goods & services imports, which is higher than the 51.99 weeks and 37.39 weeks, reported at the end of November, respectively. 
• At the current level, Jamaica’s NIR remains well-above the international benchmark of 12-weeks.  

(Source: BOJ)