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Balance of Payments

Balance of Payments

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Published by nishadhar

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Published by: nishadhar on Feb 08, 2010
Copyright:Attribution Non-commercial


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Balance of payments
What is BOP?
It is the summary of flow of economic transactionsbetween the residents of a country and the rest of the world during a given time period.
It is similar to sources and uses of funds statementfor a company.
It measures the flow of international payments andreceipts.
It records only changes in the levels (not theabsolute level) of international assets and liabilities.
What is BOP?
BOP is described by the IMF in its BOP Manual asa statistical statement for a given period showing:
Transactions in goods, services and income between aneconomy and the rest of the world;
Changes of ownership and other changes in the economy’smonetary gold, SDRs, and claims and liabilities to the rest of the world; and
unrequited transfers and counterpart entries that are neededto balance, in the accounting sense, any entries for theforegoing transactions and changes which are not mutuallyoffsetting
BOP manual prescribes the principles andconcepts to be followed by the member countrieswhile preparing BOP data.

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