1. The Balance of Payments Compilation Guide (Guide) is a companion document to the fifth edition of the Balance of Payments Manual (BPM) published by the International Monetary Fund (IMF or the Fund) in 1993. The primary purpose of the BPM is to set out the conceptual framework underlying balance of payments and international investment position statistics. The purpose of the Guide is to show how the conceptual framework described in the BPM may be implemented in practice. Key elements of the framework are described in paragraphs 12-30 of this introductory chapter.