Virus to shrink global imbalances: IMF

By David Lawder
Updated August 5 2020 - 6:36am, first published 6:34am
The IMF says Saudi Arabia will have a current account deficit of 4.9 per cent as oil prices slump.
The IMF says Saudi Arabia will have a current account deficit of 4.9 per cent as oil prices slump.

The International Monetary Fund says 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.

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