word
Balance of Payments
BAL-uns uv PAY-ments
/ˈbæləns əv ˈpeɪmənts/Listen
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Syllable breakdown
balanceofpayments
Dictionary meaning
A comprehensive record of all economic transactions between residents of one country and the rest of the world over a given period, comprising the current account, capital account, and financial account; the accounts must always balance in aggregate.
Examples
- A crisis in the balance of payments often forces a country to seek IMF assistance and implement austerity measures.
Synonyms: BoP
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