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balance of payments |
Also found in: Dictionary/thesaurus, Medical, Legal, Idioms, Encyclopedia, Wikipedia, Hutchinson | 0.04 sec. |
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Balance of payments A statistical compilation formulated by a sovereign nation of all economic transactions between residents of that nation and residents of all other nations during a stipulated period of time, usually a calendar year.
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A country can run a balance-of-payments deficit only to the extent that it can finance it, either through borrowing or depleting its foreign exchange reserves. Deterioration in terms of trade of commodity-exporting developing countries was a major cause of their severe balance-of-payments difficulties. and balance-of-payments risk has been substantially reduced. |
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