Net International Reserves as at end-December 2020

News Release

7 January 2020

BANK OF JAMAICA

NET INTERNATIONAL RESERVES AND BASE MONEY INDICATORS

BASE MONEY INDICATORS (J$M)

Uses:

Net Currency Issue

Total Currency Issue

Notes Issue

Coins Issue

Less: Cash held by BOJ

Commercial Banks' Statutory Reserves

Commercial Banks' Current Account 1

Monetary Base 2

Sources:

Net International Reserves

Assets

Liabilities

Net Domestic Assets

Net Claims on the Public Sector Open Market Operations

Net Credit to Commercial Banks Other

Total

End	End	Change
November 2020	December 2020
168,922.29	190,488.13	21,565.84
169,050.80	190,622.70	21,571.90
163,741.13	185,311.69	21,570.56
5,309.67	5,311.01	1.34
128.51	134.57	6.06
39,133.21	39,116.50	-16.72
74,263.45	52,968.37	-21,295.08
282,318.96	282,573.00	254.04
433,692.34	445,328.15	11,635.81
575,617.88	581,364.44	5,746.57
-141,925.54	-136,036.29	5,889.25
-151,373.38	-162,755.16	-11,381.78
231,623.57	222,068.31	-9,555.25
-107,435.72	-124,035.72	-16,600.00
-71,951.31	-69,050.62	2,900.70
-203,609.91	-191,737.13	11,872.78
282,318.96	282,573.00	254.04

1/

2/

Transaction balances and excess reserves. Data reflect credit balances only.

Note: Statutory cash reserve and current accounts of commercial banks are held at the Bank of Jamaica.

Monetary Base is the aggregate of Net Currency Issue, Commercial Banks' Statutory Cash Reserves and Current Account.

BANK OF JAMAICA'S INTERNATIONAL RESERVES (US$M)

	End	End	Change
	November 2020	December 2020
FOREIGN ASSETS	3,932.33	4,081.09	148.76
Currency & Deposits	3,378.18	3,511.79	133.61
Securities	331.20	344.76	13.56
SDR & IMF Reserve Position	222.95	224.54	1.59

FOREIGN LIABILITIES	969.56	954.95	-14.61
IMF	969.56	954.95	-14.61
Other3	0.00	0.00	0.00
NET INTERNATIONAL RESERVES	2,962.76	3,126.13	163.37
Reserves in Weeks of Goods Imports 4	51.99	53.95
Reserves in Weeks of Goods & Services Imports4	37.39	38.81
Percentage of ARA Metric5	117.67	122.12

3/

4/

Effective 1 March 2017, amounts previously included in other foreign liabilities are no longer a part of BOJ's total foreign liabilities.

Based on estimated value of imports for FY 2020/2021

5/ The Assessing Reserve Adequacy Metric (ARA) is comprised of four components, each reflecting a potential drain on the external accounts. The components include Exports of Goods and Services, Broad Money, Short-Term External Debt and Other Portfolio Liabilities.