Meanwhile, total foreign assets, which include foreign assets of the banking sector, amounted to US dollars 10.5 billion at end July 2014. Gross official reserves were equivalent to 5.9 months of imports, while total foreign assets were equivalent to 6.9 months of imports.

A healthy level of reserves was maintained amidst foreign exchange outflows on account of debt service payments amounting to US dollars 1,478 million and repayment of the IMF-SBA of US dollars 433 million during the first seven months of the year. (KH)