02138cas a2200253 a 4500 AALejournalIMF007957 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451855388 1018-5941 BD-DhAAL BD-DhAAL Wright, Chris. Statistical Treatment of Accrual of Intereston Debt Securities / Chris Wright, John Joisce. Washington, D.C. : International Monetary Fund, 2001. 1 online resource (42 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students When new international statistical standards were published in 1993, one of the major changes to the recommended presentation of the system of national accounts and the balance of payments was the adoption of accruals reporting for income and expenditure. However, as countries have begun to implement these standards, questions have arisen about their exact interpretation in respect of interest flows associated with tradable debt, where the cash flow is fixed at the time of issue but where the price of the instrument fluctuates with market conditions. A clear consensus has yet to emerge. The paper explores the issues involved in using the alternative approaches, the so-called "debtor" and "creditor" approaches. The debtor approach uses the rate implicit at the time of issue, and the creditor approach, the current market rate. The paper concludes that the creditor approach is the only one consistent with accrual principles and market valuation for the debt outstanding. It reviews implications for national and sectoral saving from this approach. Mode of access: Internet Joisce, John. IMF Working Papers; Working Paper ; No. 2001/132 Full text available on IMF http://elibrary.imf.org/view/journals/001/2001/132/001.2001.issue-132-en.xml IMF e-Library