Many candidates attempted these questions. The general performance was above average. However, it could have been much better if they had adequately explained the methods used in correcting adverse balance of payment. They include the followings:
(i) Export Promotion: This refers to government activities aimed at production of goods for export e.g. creation of export free zone.
(ii) Discourage Importation: Reduction in importation of goods through the imposition of restrictions like tariff, embargoes, exchange control measure, quotas etc.
(iii) Borrowing: The government can borrow from the international financial institutions like IMF to settle deficit on balance of payments. etc.
