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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
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06/29/2010

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Balance of payments
 
02/08/10M.Bashyakar2
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.
 
02/08/10M.Bashyakar3
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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