The 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. "Major commodity exporters should see their current accounts going from significant surpluses to significant deficits," IMF chief economist Gita Gopinath said in a webcast presentation of the report. Tourism-dependent Thailand and Malaysia will see their surpluses shrink dramatically in 2020, the report showed. China's current account surplus of 1.0% in 2019, projected to grow to 1.3% in 2020, was broadly in line with economic fundamentals, the IMF said in the report. China's real effective exchange rate had appreciated by 1.8% from the 2019 average through May 2020, the report showed.

Source: bd News24 August 04, 2020 14:48 UTC