Jamaica’s Net International Reserves fell by another US$125.02 million for the month ended October 31, 2012.
The NIR now stands at US$1.13 billion and the Jamaican dollar closed at US$1/J$91.18 yesterday.
In the mean time, the GOJ has issued a ten-month variable rate instrument with an initial coupon of 7.755%. Thereafter interest will be paid quarterly at 1.375% above the average yield of the GOJ 3-month T-Bill.
All eyes remain on the status of the IMF agreement and the extent of the proposed reforms in the economy.
It was good to see that there was an announcement yesterday signalling that public sector workers may soon start to contribute to their own pensions, even though the proposal is for it to remain as a defined benefit scheme.
What else is in the pipeline? Debt for asset swaps? Is anything up for sale?
Big In Jamaica 