## BPM7 Annex 12. Links Between International Standards for Macroeconomic Statistics: Annotated Outline

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**Canonical URL:** [BPM7 Annex 12. Links Between International Standards for Macroeconomic Statistics: Annotated Outline](https://www.imf.org/-/media/files/data/statistics/bmp7/chapters/ao-bpm-ann-12.pdf)

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### I. Introduction
- This annex is an update of BPM6 Appendix 7 and provides a broad framework of statistical linkages of international accounts with the national accounts and other macroeconomic statistics.
- It presents interconnections of the balance of payments and the international investment position (IIP) with:
  - the System of National Accounts (SNA),
  - Government Finance Statistics (GFS),
  - Monetary and Financial Statistics (MFS),
  - External Debt Statistics (EDS).
- Prepared by Wilson Phiri (BPM editor) and cleared by BPM Project Manager.

### II. Accounting System
- Extends the discussion in paragraphs A7.2–3 in BPM6.
- Outlines similarities and differences between accounting systems of the balance of payments/IIP and other macroeconomic statistics.

### III. Classification
- Expands the discussion in paragraph A7.4 in BPM6.
- Provides similarities and differences in classification between the balance of payments/IIP and other macroeconomic statistics.

### IV. Linkages of Balance of Payments/IIP with Other Macroeconomic Statistics
- Presents an overview using a schematic diagram (Figure 1: “Linkages of Balance of Payments and International Investment Position with Other Macroeconomic Accounts”).
- Follows with descriptions of main linkages between international accounts and each major macroeconomic dataset.

- a) Linkages with the System of National Accounts
  - Highlights specific balance of payments components integrated in the SNA.
  - Presents linkages of the IIP with the SNA rest of the world account.
  - Maintains the discussion in paragraphs A7.5–A7.9 in BPM6 and Table A7.1 with possible updates.
  - References relevant updates in Chapter 19 of BPM7 arising from GN B.4 “Reconciliation Between Flows and Stocks” on Consistency between Balance of Payments/IIP and National Accounts.
  - Key conceptual mappings shown in the schematic include:
    - Real sector ↔ Fiscal sector linkages (e.g., Consumption, Investment, Net Exports).
    - External sector ↔ Monetary sector linkages (e.g., Current account, Net Foreign Assets, Financial account transactions).
    - Financial account components listed in the schematic: Direct Investment; Portfolio Investment; Financial Derivatives; Other Investments; Reserve Assets.
    - Financial account mechanics shown: Financial Account (Transactions); Opening Position; Closing position; Other Changes in Volume; Revaluations; Errors and Omissions; Net Acquisition of Financial Assets; Net Incurrence of Liabilities.

- b) Linkages with Government Finance Statistics
  - Presents linkages of the balance of payments/IIP with government finance statistics.
  - Uses BPM6 Compilation Guide Appendix 6 (paragraphs A6.54–6.110), GFSM 2014 Appendix 7 (paragraphs A7.75–A7.98), and relevant GFSx course material as primary inputs for compilers.

- c) Linkages with Monetary and Financial Statistics
  - Describes interconnections of transactions and positions for deposit-taking corporations, central bank, and other financial corporations in the international accounts with corresponding sections in monetary and financial statistics.
  - Uses BPM6 Compilation Guide Appendix 6 (paragraphs A6.31–6.53) and MFSMCG 2016 Appendix I, Section IV (paragraphs A1.14–A1.24) as primary inputs.

- d) Linkages of the International Investment Position with External Debt Statistics
  - Highlights which components in the IIP constitute external debt and the differences that exist.
  - Presents linkages across functional categories, instruments, and institutional units between the IIP and external debt statistics.
  - Uses External Debt Statistics Guide Appendix 4 (“The Link between External Debt Statistics and the IIP”, paragraphs 2–6, and Table A4.1).
  - Provides cross-references for compilers to Public Sector Debt Statistics guidance on aligning External Debt Statistics with Public Sector Debt Statistics.

### Schematic Overview (Structure of the Annex)
- I Introduction
- II Accounting System
- III Classification
- IV Linkages of Balance of Payments and International Investment Position with other Macroeconomic Statistics
  - a) Linkages with the System of National Accounts
  - b) Linkages with Government Finance Statistics
  - c) Linkages with Monetary and Financial Statistics
  - d) Linkages of the International Investment Position with External Debt Statistics

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_Source: https://www.imf.org/-/media/files/data/statistics/bmp7/chapters/ao-bpm-ann-12.pdf_