The latest data from the Bank of Jamaica (BOJ) show the country’s Net International Reserves (NIR) position continues to improve.

At the end of December 2021, net international reserves stood at US$3.99 billion, which is US$103.7 million more than the US$3.89 posted at the end of November 2021.

This represents 54.3 weeks of imports and 33.5 weeks of goods and services imports, which is the highest level of reserves in the last six months of 2021.

At the same time, Jamaica is also trimming its debt to the International Monetary Fund (IMF), the latest out-turn showing a decline in the island’s debt to the multinational financial body.

At the end of December, the amount owing to the IMF totalled US$832 million, which is US$21.63 million less than at the end of November.

This represents a US$64.6 million decline over the last six months of 2021.