Coronavirus may Shrink Global Imbalances further, in 2020, IMF Forecasts

Washington, The International Monetary Fund (IMF) said on Tuesday that global current account imbalances narrowed in 2019 as trade slowed, and the coronavirus could narrow them further in 2020, but some commodity exporters and tourism-dependent countries will swing to current account deficits.
IMF’s External Sector Report on currencies and imbalances for the world’s 30 largest economies showed that net current account balances fell by 0.2 percentage point to 2.9% of global GDP.
The Fund projected a further narrowing by 0.3% of global GDP in 2020, partly due to massive fiscal and monetary stimulus by many countries and continued pressure on trade, according to Reuters.

 

Source: Saudi Press Agency

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