BOP
What does BOP stand for?
Balance of Payments
What does NFM stand for?
National Financial Management
What is a government system designed to solve public problems called?
Public policy
In what year did Barbados establish its Central Bank?
1972
What is the total of the BOP equation?
Zero
What does the BOP record?
Monetary inflows and outflows between a country and the rest of the world
What is another name for NFM?
Public Finance Management
Name one element of growth-oriented public policy.
Macroeconomic stability
What shortage made it difficult for Jamaica to pay for essential imports?
Foreign exchange reserves
What does the reserve account record?
Changes in official reserves
How often is the BOP recorded?
Quarterly or annually
What does NFM manage?
Government funds
What does sound governance promote?
Transparency and accountability
In what year did Barbados peg its currency to the US dollar?
1975
What does the central bank buy when excess foreign exchange enters the market?
Foreign exchange
Which account records goods, services, income and transfers?
Current Account
Name one area guided by NFM.
Resource allocation
What type of stability helps attract foreign investment by ensuring rule of law?
Macro political stability
In what year did Jamaica enter the IMF Extended Fund Facility discussed in the presentation
2013
What does the central bank sell to cover a foreign exchange deficit?
Foreign exchange reserves
Which account reflects changes in official foreign exchange holdings?
Reserve Account
Which two sectors should work together to support NFM growth?
Public and private sectors
What does prudent government consumption redirect spending toward?
Long-term capital infrastructure
What partnership involving government, trade unions and the private sector was established in 1993?
Social Partnership
What is the name of the BOP item that adjusts for data-collection limitations?
Errors and Omissions