Trends in the Balance of Payments in Cuba and How They Have Changed Over the Last 30 Years

Balance of payment in Cuba
Name
Institution Affiliation
Date
The balance of payments is a method employed by the government to keep account of all international financial exchanges over a specific duration of time. The balance of payment in Cuba can be divided into three primary categories:
The Current Account
The current Cuban account is used to track the entrance and outflow of commodities and other various services. In addition, the current account also receives earnings from governmental and private investments.
The Capital Account
The capital account records all international capital transactions (Jones, 2018). This relates to the acquisition or selling of non-financial assets and non-produced assets, such as valuable minerals necessary for output but has not yet been manufactured.
The Financial Account
The financial account records international finance movements pertaining to the enterprise, property investment, securities, and stocks.
In the last 30 years, there has been an adjustment in the balance of payments in Cuba. With rare exceptions, the term "adjustment" has evolved to be used almost exclusively to refer to national economic reactions, particularly deficit nations. Changes in all three aspects of the econom...