## BPM7 Annex 4. Remittances: Annotated Outline

## Source details

**Canonical URL:** [BPM7 Annex 4. Remittances: Annotated Outline](https://www.imf.org/-/media/files/data/statistics/bmp7/chapters/ao-bpm-ann-4.pdf)

## Other formats

- [Markdown version](/-/media/files/data/statistics/bmp7/chapters/ao-bpm-ann-4.pdf.md)
- [Structured JSON version](/-/media/files/data/statistics/bmp7/chapters/ao-bpm-ann-4.pdf.json)

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### Overview and Purpose
- Update to BPM6 Appendix 5.
- Annex will be mostly maintained as in BPM6 Appendix 5 with minor updates.
- Will discuss:
  - the concept of remittances,
  - their significance,
  - how they are recorded in the balance of payments.
- Will present:
  - the standard components in the balance of payments framework related to remittances,
  - the supplementary items, and
  - related data series.
- Adjustments to the opening section to reflect new transmission channels of remittances in view of advances in fintech such as e-money/mobile money (GN F.7 Impact of Fintech on Macroeconomic Statistics).
- The term “Remittances” will be subject to the outcome of the work of the Communications Task Team—GN. CM.2 “Terminology and Branding of the Economic Accounting Statistical Standards”.

### Editorial and Preparation Notes
- Changes from BPM6 highlighted in yellow.
- Prepared by Wilson Phiri (BPM editor) and cleared by the BPM Project Manager.
- Key Stakeholders Consulted:
  - [System of National Accounts Lead Editor]
  - IMF Statistics Department Financial Institutions Division and Government Finance Division

### Schematic Overview — Major Sections
- I Economic Concept of Remittances and Why They Are Important
- II Concepts of Residence, Valuation and Time of Recording
- III Standard Components in the Balance of Payments Framework Related to Remittances
- IV Supplementary Items Needed for Compilation of Remittances
- V Related Data Series

### Scope and Exclusions
- Data by Partner Economy (Section F of Appendix 4, BPM6) is not included in this Annex. It will be included with some additional guidance in Annex 11 “Data by Partner Economy”.

### References Cited in the Annex
- BPM6, Appendix 5: Remittances
- International Transactions in Remittances - Guide for Compilers and Users
- GN F.7 Impact of Fintech on Macroeconomic Statistics
- Update of the sixth edition of the Balance of Payments and International Investment Position Manual (BPM6) (imf.org)

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_Source: https://www.imf.org/-/media/files/data/statistics/bmp7/chapters/ao-bpm-ann-4.pdf_