OREANDA-NEWS. In the course of implementation of the standards set out in the 6th edition of the IMF's Balance of Payments and International Investment Position Manual (BPM6) the Bank of Russia has adopted a new sign convention in its publications of data reflecting changes in separate items and aggregates within the current account, the capital account, and the financial account.

The change of the sign convention to a new format is due to the BPM6 requirement to have the presentations of the balance of payments data and the international investment position (IIP) data reconciled. Under the BPM6 methodology, changes resulting from balance of payments transactions must have the same sign as the changes in assets and liabilities in the IIP.

The new sign convention is also consistent with the principles underlying the System of National Accounts.

Accordingly, the sign convention of indicators derived from the balance of payments data is being changed, which refers, inter alia, to Net Private Sector Capital Inflows/Outflows aggregate.