The Balance of Payments (BoP) systematically summarizes all economic transactions between the residents and the non-residents of a country or of an economic area during a given period. The Balance of payments provides harmonized information on international transactions which are part of the current, capital and financial accounts. BoP is an important macro-economic indicator used to assess the position of an economy (of credit or debit for current and capital acount, net acquisition of financial assets or net incurrence of liabilities for BOP financial account and international investment position) towards the external world. The external debt (or the foreign debt), at any given time, is the outstanding amount of the actual current (and not contingent) liabilities that require payment(s) of principal and/or interest by the debtor at some point(s) in the future and that are owed to non-residents by residents of an economy. The indicator is used as an auxiliary variable in the MIP context. The data are expressed in % of GDP. Annual and quarterly figures are published.
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