Balance of Payments, Monetary Policy, Overall, Balance


Developments in the balance of payments of any country is generally of interest to national policymakers, international investors, financial and economic analysts as well as international financial institutions. In recent times, Nigeria recorded persistent current account as well as overall BOP decits and these created discomfort among policy makers with regards to its sustainability and possible implications for the economy. This paper explores some of the major developments and trends in Nigeria's BOP as well as their interrelationship with other macroeconomic accounts. It also provided clarity to the structure and components of Nigeria's BOP statistics as compiled in line with the 6th edition of the balance of payments and international investments position manual of the IMF. This will deepen understanding of balance of payments among policy makers, analysts, researchers and compilers of macroeconomic statistics. It will also serve as a guide to policy makers in the design of appropriate monetary policy

Author Bio

The author is a staff of Statistics Department, Central Bank of Nigeria

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