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Balance of Payments
Intro
Current Account
Invisible Items
Current Transfers |
C and F accounts
Capital and Financial Account
Private Long-Term
The figures are based on replies to questionnaires sent to the main private firms in the Sierra Leone economy. This consists mainly of direct investment in branches, subsidiaries etc. by overseas companies.
The estimates of direct investment by overseas companies include the parent company's share of un-emitted and undistributed profits of subsidiaries or branches, the net acquisition of shares and loan capital, changes in inter-company accounts. The assets side of private long-term capital also includes changes in foreign portfolio investment by the private sector.
Central Government Foreign Assets and Liabilities
Central Government Foreign Liabilities comprise drawings and repayments on loans and pre-financed obligations. Assets comprise contributions, savings bank investments and other funds.
Monetary Movements
These comprise changes in the foreign assets and liabilities of the monetary institutions. Borrowings by commercial banks form part of their liabilities while their assets consist mainly of deposits with banks abroad. Data are obtained directly from financial institutions.
Reliability of the Estimates
The Balance of Payments estimates are compiled from a large number of different sources and the degree of accuracy varies considerably between items. The following notes assess the comparative quality of the present estimates and the main points on which errors and omissions may arise.
A number of adjustments are made for both coverage and valuation, to bring the trade account figures as published in the Central Statistics Office Annual Trade Report on to a Balance of Payments basis. Most of these are based on the results of sample enquiries. However, in nearly all cases, any change in coverage and valuation estimates is used again in the calculation of items in the invisible accounts.
Invisible
The estimates of travel expenditure are based on very incomplete data and only represent a general order of magnitude for these items. Estimates for investment income, Government transactions and other services are based on direct enquiries and represent a fairly complete coverage of these items.
Transfers
Certain grants from foreign governments that involve the supply of personnel or equipment have been included in expenditure by external governments in Sierra Leone because it has not yet been possible to obtain separate information on this subject. The credit item on Government transfers may therefore, be understated or overstated.
Capital and Financial Account
Most of the major institutions or firms that are likely to have capital movements into or out of Sierra Leone have provided information. Also, there is complete record of Government borrowing and repayments.
It has not been possible to identify certain capital transactions by the non-corporate private sector. This movement may however not significantly alter the position of recorded figures. The figures in the monetary movement sector are precise ones. They are contained in regular returns prepared by commercial banks and the Central Monetary Institution.
Intro |
Current Account |
Invisible Items |
Current Transfers |
C and F accounts
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