Alfonso Llanes, Master Degree in International Development
Alfonso Llanes, Master Degree in International Development
Anyone needing to assess the statistics relating to payment flows generated by international trade and the currency transaction used to prompt the balance of payments among nations should get a copy of:
T BPM6 COMPILATION GUIDE COMPANION DOCUMENT TO THE SIXTH EDITION OF
THE BALANCE OF PAYMENTS AND INTERNATIONAL INVESTMENT POSITION MANUAL
COMPILATION GUIDE INTERNATIONAL MONETARY FUND
The Guide provides guidance that is applicable for different economies—from the smallest and least developed to the most advanced and complex. National compilers should develop and adapt the data sources and compilation methods in ways that are appropriate to their national circumstances, by considering the practical and legal constraints in their own economies.
An economy’s data compilation methods should evolve over time as the economy changes. Therefore, the Guide does not present a prescriptive or definitive approach to compiling statistics on the balance of payments and the international investment position (IIP). Instead, the Guide identifies the relative strengths and weaknesses of alternate approaches, and identifies the adjustments that may be required to source data to derive estimates of fl ows and stocks that are consistent with the recommendations in BPM6.The BPM6 strengthens the theoretical foundations and linkages with other macroeconomic statistics, and the Guide includes elaboration on these linkages. The Guide also provides practical advice on using the data from the other macroeconomic accounts in compiling the international accounts.
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