CBSE Class 12 Economics — Balance of Payments

Michel, an entrepreneur of Country Zeta, borrowed $5 million from an overseas bank to expand his textile business. During the same financial year, the Government of Country Zeta secured a loan of$ 30 Billion from an International Financial Institution to manage the ongoing Balance of Payments. Samuel, an Economics student categorised both of these transactions as `autonomous transactions' in the BoP account of the country. Do you agree with his classification ? Justify your answer with valid reasons.