The BOP and
current account balances reverted to deficits after nine years of straight surpluses in the case of the BOP, and 13 years of surpluses for the current account.
The ratings agency said in its annual "The Middle East and North Africa (Mena) sovereign outlook" report that while "most net importers are presented with benefits from improving external
current account balances and lower fiscal spending on subsidies lower oil revenues will adversely affect net oil exporters' fiscal and external positions with varying degrees of pressure across GCC countries.
The ratings agency said in its annual "The Middle East and North Africa (Mena) sovereign outlook" report that while "most net importers are presented with benefits from improving external
current account balances and lower fiscal spending on subsidies, lower oil revenues will adversely affect net oil exporters' fiscal and external positions, with varying degrees of pressure across GCC countries.
We expect net energy importers India, Thailand, Philippines and Singapore to record more positive
current account balances than previously.
Core inflation remains low, and the fiscal and
current account balances are sustainable," IMF Deputy Managing Director Nemat Shafik said in a statement.
5% this year with a strong outlook for
current account balances3) present the mean equations of
current account balance, government budget balance, and real interest rates as a three-variable VAR system with lag length of p, where CA, GB, and RI denote
current account balances, government budget balance, and real interest rates, respectively.
Among 18 countries which posted current account deficits last year, only Korea and Iceland are expected to see their
current account balances return to surplus this year, the IMF said.
Globally,
current account balances must sum to zero.
Despite Londoners maintaining the highest
current account balances, they also rack up the biggest overdrafts, with the average in the city being pounds 961.
But the BOJ under Hayami had consistently resisted this pressure, believing there was already excess liquidity available to financial institutions, which could not or would not use the excess funds they already had (as huge
current account balances at the BOJ).
It added that it had savings and
current account balances of pounds 2billion, with a total of pounds 8.
