Global current account balance to narrow, IMF says
Weakening commodity prices have stripped energy-exporting countries of their surpluses
The global current account balance will narrow over the medium term, having expanded continuously between 2020 and 2022, the International Monetary Fund (IMF) has said.
The institution’s annual external sector report said the balance began to moderate towards pre-Covid levels in 2023. It added that this reflected a reversal of the large surpluses that had been built up in commodity-exporting countries.
Capital inflows to emerging markets and developing economies recovered mildly from the levels
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