The concepts and methodological standards for compiling external sector statistics are set out in numerous international manuals. The the main reference work for the balance of payments and international investment position is the International Monetary Fund’s (IMF) Balance of Payments and International Investment Position Manual, Sixth Edition (BPM6). In March 2020, the IMF began updating the Balance of Payments and International Investment Position Manual to the seventh version (BPM7), with completion scheduled for 2025. Parallel to this, the United Nations is working on revising the System of National Accounts (SNA 2008). There are close conceptual links between the two manuals.

Over the last months, various working groups have drawn up guidance notes containing proposed changes for the manuals covering a broad range of topics.

The IMF publishes all guidance notes, which were accepted by the Balance of Payments Commitee. The first drafts for the BPM7 will be founded on these guidance notes.

Up-to-date information on the update process can be found on the IMF’s website.