Macroeconomic Forecast Jamaica

BMI View: Jamaica's foreign reserves fell to US$2.82bn in December 2011, representing a decline of 5.3% y-o-y. Given the volatility of the country's external account dynamics, we do not rule out a brief dip again in reserves in 2012. That said, given that we do not anticipate a balance of payments crisis in 2012, we forecast that overall, foreign reserves will rise to US$3.0bn by the end of the year.

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