International Economic Terms

English-language economic definitions generated from approved international institutional sources.

  • pan-European automated clearing house (PE-ACH)

    A pan-European automated clearing house (PE-ACH) is an arrangement for handling euro payment instruments across European markets. Its operation is based on shared rules and procedures …

  • participant

    A participant in a transfer system has authority to initiate transfers and to accept instructions routed through that system. This status may be held by an …

  • payer

    A payer is the person or organisation that provides the funds for a payment and authorises its execution. The amount may be debited from the payer’s …

  • payment

    Payment denotes the settlement of a monetary obligation by moving funds from the debtor to the creditor. In banking and economic statistics, the term is sometimes …

  • Primary education, classrooms, national source

    Primary education classrooms are physical teaching facilities used for instruction at primary level and meeting a basic equipment standard. The indicator is compiled under national rules: …

  • Primary education, new classrooms, national source

    The indicator records newly created physical capacity for primary schooling. It counts classrooms or other self-contained teaching spaces that have been built and equipped for lessons, …

  • Primary education, pupils, national source

    The primary-school enrolment count records the number of pupils registered at primary level, without limiting the measure to a specific age group. Its coverage and compilation …

  • Primary education, teachers, national source

    Primary education teachers are members of the school workforce whose assigned duties involve teaching children at the first stage of formal schooling. Staff employed in primary …

  • principal (in a debt service context)

    Principal is the original amount borrowed or the face value of a debt instrument, excluding interest and other financing costs. In a bond, it is generally …

  • Public spending on total education (% of total public spending)

    The education expenditure share records the proportion of a government’s aggregate public outlays assigned to education. Its numerator covers day-to-day costs, such as teacher remuneration and …