Budget 2016 update: Sinckler says foreign reserves level safe
Finance Minister Chris Sinckler assures the country there is no need for undue concern about the island’s foreign reserves.
He acknowledged that while the island’s foreign reserves level are currently below the 900 million dollar mark, they will rise shortly.
“In the next two months or so the Central Bank’s reserves will be boosted by close to 200 million US dollars of inflows. This should bring reserve levels to well over a billion dollars in a relatively short space of time and the vast majority of this will not be from any borrowings in the market.”