Question

The IMF's BPM6 classification divides the Balance of Payments (BOP) into which three accounts?

Options

• Current Account, Official Reserve Account, and Errors & Omissions Account

• Current Account, Capital Account, and Financial Account

• Current Account, Trade Account, and Service Account

• Visible Account, Invisible Account, and Transfer Account

Answer 1

The IMF's BPM6 classifies the Balance of Payments into three accounts: the Current Account, the Capital Account, and the Financial Account. Goods, services, factor income, and unilateral transfers all belong to the current account under this framework.