REST OF THE WORLD ACCOUNTS (V)

8.65 . The rest of the world accounts record transactions between resident and non-resident units. The rest of the world does not constitute an institutional sector as such, but in the structure of the system it plays a similar role.

8.66 . The sequence of rest of the world accounts follows the same general pattern as the institutional sector accounts, i.e.:

a) current accounts;

b) accumulation accounts;

c) balance sheets.

8.67 . These accounts are drawn up from the point of view of the rest of the world. Thus, what is a resource for the rest of the world is a use for the total economy and vice versa. By the same token, a financial asset held by the rest of the world is a liability for the total economy and vice versa (except monetary gold and special drawing rights).