In international finance,the term "Balance of Payments" refers to the balance owing from one government to another.

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The term "Balance of Payments" refers to the record of all economic transactions between the residents of one country and the rest of the world. It includes trade in goods and services, investment income, and transfers of funds. It is not just limited to government transactions, but includes transactions by private individuals and companies as well.

In International Finance,the Term "Balance of Payments" Refers to the Balance