The international investment position (iip) reflects the stocks of Greek residents’ assets and liabilities vis-à-vis non-residents at a specific moment in time (quarter-end and year-end).
Assets and liabilities are classified into the main categories of direct investment, portfolio investment, other investment, and reserve assets, and are broken down by resident sector, i.e. Bank of Greece, , other monetary financial institutions (OMFIs), general government, and other sectors. The difference between assets and liabilities is the net investment position, which, depending on its positive or negative sign, characterises the country as a net creditor or debtor, respectively, vis-à-vis the rest of the world.
Changes in the international investment position arise not only from transactions (monetary flows) of the financial account of the balance of payments, but also from changes in the market valuation of the financial instruments included in the stocks of assets and liabilities.