[11. Read the article carefully and answer AlL Two [2} questions. [24 marks] The International Monetary Fund said that global current account imbalances narrowed in 2019 as trade slowed, and the coronayirus could narrow them further in 2020, but some commodity exporters and tourismdependent countries will swing to current account deficits. The IMF's External Sector Report on currencies and imbalances for the world's 30 largest economies showed that net current account balances (the absolute sum of all surpluses and decits} fell by 0.2 percentage point to 2.9% of giobal GDP. The Fund projected a further narrowing by 0.3% of giobal GDP in 2020, partiy due to massive fiscal and monetary stimulus by many countries and continued pressure on trade. "Major commodity exporters should see their current accounts going from significant surpluses to signicant deficits," IMF chief economist Gita Gopinath said in a webcast presentation of the report. The IMF projected that Saudi Arabia, which had a 5.9% current account surplus in 2019, will see a deficit of @936 in 2020 due to the collapse of oil prices and demand. Tourismdependent Thailand and Malaysia will see their surpluses shrink dramatically in 2020, the report showed. 1. 1What were the main reasons for the following predictions? {a. Saudi Arabia's current account goes from signicant surpluses to significant deficits. b. Current account shrink dramatically in Thailand and Malaysia}. IWhich suhaccounts of current account will be affected by these reasons? {8 marks} 2. Do you have any suggestions for a. commodity exporting countries (in short run and long run] and b. tourism-dependent countries (in short run and long run]? {16 marks]