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Chapter Objectives1.×To define the balanceofpayments accounts.2.×To discuss the actual balance of payments.3.×To explain the means for correcting a balanceofpayments deficit. Chapter Outlined.
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The form balance-of-payments is a statistical statement that summarizes transactions between residents and non-residents during a specific period.
Entities engaged in international transactions, such as businesses, governments, and individuals, are required to file the form balance-of-payments.
The form balance-of-payments can be filled out electronically through the designated online platform provided by the relevant authorities.
The purpose of the form balance-of-payments is to provide data on the economic transactions between a country and the rest of the world, which is useful for policy-making and analysis.
Information such as imports and exports of goods and services, financial transactions, and transfers between residents and non-residents must be reported on the form balance-of-payments.
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