| - The Net International Reserves
(NIR) of the Bank of Jamaica (BOJ) was boosted to some US$2 billion, or
16 weeks worth of imported goods and services, Tuesday (September 1),
after an injection of J$3.6 billion in budget support grants from the
European Union (EU).
This follows Friday's (August 28)
disbursement of 74% of Jamaica's quota of Special Drawing Rights (SDRs)
from the International Monetary Fund (IMF), which increased the NIR to
over US$1.9 billion.
"(This) puts us in a strong
position going forward, in respect of maintaining our overall
confidence levels and, certainly, to continue to maintain stability in
the exchange rate," said Minister of Finance and the Public Service,
Hon. Audley Shaw.
Mr. Shaw also pointed out that, in
February, the Exchange Rate was J$88 to US$1 and, as of Monday, it
remained stable at J$89 to US$1.
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