External Sector Report, 2020:Global Imbalances and the COVID-19 Crisis

The IMF’s annual External Sector Report analyzes global external developments and provides multilaterally consistent assessments of external positions.
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Volume/Issue: Volume 2020 Issue 001
Publication date: August 2020
ISBN: 9781513549019
$79.00
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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Exports and Imports , Finance , ESR , debt liability , CA gap , debt assets , CA surplus , equity assets , CA deficit , Real effective exchange rates , Current account balance , Emerging and frontier financial markets , Global , Africa

Summary

Produced since 2012, the IMF’s annual External Sector Report analyzes global external developments and provides multilaterally consistent assessments of external positions, including current accounts, real exchange rates, external balance sheets, capital flows, and international reserves, of the world’s largest economies, representing over 90 percent of global GDP. Chapter 1 discusses the evolution of global external positions in 2019, external developments during the COVID-19 crisis, and policy priorities for responding to the crisis and for reducing excess imbalances over the medium term. Chapter 2 analyzes the relationship between the structure of external assets and liabilities—the components of the international investment position—and the risk of external stress events. It also assesses how heightened global risk aversion, as during the COVID-19 crisis, amplifies these risks. Chapter 3, “Individual Economy Assessments,” provides details on the different aspects of the overall external assessment and associated policy recommendations for 30 economies. This year’s report and associated external assessments are based on the latest vintage of the External Balance Assessment (EBA) methodology and on data and IMF staff projections as of July 15, 2020.