Other investment income:the two components related to official income include the income to be received or paid by the general government or central bank of the resident country, by a foreign government or central bank, or by an international organization. Said income includes accrued interest for deposits, debt securities and other loans. The official income includes the rent payable to the International Monetary Fund (includes charges, contributions, interests and holdings in the IMF in the General Account and the Special Drawing Account)
Unilateral transfers: When a balance of payments (BOP) entry records that an economy has managed other real or financial resources, the double-entry registration system requires a compensatory entry; if there is no such compensatory entry, it is called unilateral transfer. They are classified as private unilateral transfers, inter-official transfers, other transfers from the official sector, other transfers from the official sector, other transfers from the official sector and transfers from official foreign sectors.
[…] What is balance of payments? Explain its major components. Why is it useful to compute a country’s… IGNOUASSIGNMENTGURU The currency that is on the gold standard could be exchanged for an equal amount of gold at any time since the currency is essentially a promissory note for the precious metal. Defenders of the gold standard say that it gives real value to the currency instead of the imaginary value of the current currency. Detractors say that the gold standard is too rigid and restricts economic policy in times of financial instability. […]
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[…] What is balance of payments? Explain its major components. Why is it useful to compute a country’s… IGNOUASSIGNMENTGURU The currency that is on the gold standard could be exchanged for an equal amount of gold at any time since the currency is essentially a promissory note for the precious metal. Defenders of the gold standard say that it gives real value to the currency instead of the imaginary value of the current currency. Detractors say that the gold standard is too rigid and restricts economic policy in times of financial instability. […]
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