## Assumptions and Conventions

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**Canonical URL:** [Assumptions and Conventions](https://www.imf.org/-/media/files/publications/reo/mcd-cca/2016/october/assemp.pdf)

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### Projection Assumptions
- Established policies of national authorities are assumed to be maintained.
- Oil price assumption: US$43.0 a barrel in 2016 and US$50.6 in 2017.
- Six-month London interbank offered rate (LIBOR) on U.S.-dollar deposits: 1.0 percent in 2016 and 1.3 percent in 2017.
- The 2016 and 2017 data in the figures and tables are projections based on statistical information available through early September 2016.
- These assumptions are described as working hypotheses rather than forecasts; associated uncertainties add to the margin of error in the projections.

### Conventions Used in the Publication
- In tables, ellipsis points (. . .) indicate “not available,” and 0 or 0.0 indicates “zero” or “negligible.”
- Minor discrepancies between sums of constituent figures and totals are due to rounding.
- An en dash (–) between years or months (for example, 2011–12 or January–June) indicates the years or months covered, including the beginning and ending years or months.
- A slash or virgule (/) between years or months (for example, 2011/12) indicates a fiscal or financial year, as does the abbreviation FY (for example, FY 2012).
- “Billion” means a thousand million; “trillion” means a thousand billion.
- “Basis points (bps)” refer to hundredths of 1 percentage point (for example, 25 basis points are equivalent to ¼ of 1 percentage point).

### Terminology and Map Conventions
- The term “country” does not in all cases refer to a territorial entity that is a state as understood by international law and practice; it also covers some territorial entities that are not states but for which statistical data are maintained on a separate and independent basis.
- The boundaries, colors, denominations, and any other information shown on the maps do not imply, on the part of the International Monetary Fund, any judgment on the legal status of any territory or any endorsement or acceptance of such boundaries.

### Footnote
- Simple average of prices of U.K. Brent, Dubai Fateh, and West Texas Intermediate crude oil.

*Source: IMF — Assumptions and Conventions (projections based on data through early September 2016).*

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_Source: https://www.imf.org/-/media/files/publications/reo/mcd-cca/2016/october/assemp.pdf_