IMF: Current Account Imbalances to Decline in 2020

The global current account imbalances have narrowed in 2019 as international trade slowed, and the COVID-19 could further narrow it in 2020, the International Monetary Fund (IMF) said in a report on Tuesday, Reuters reported.

However, commodity exporters and countries that depend on tourism are expected to register current account deficits.

“Major commodity exporters should see their current accounts going from significant surpluses to significant deficits.”