TOKYO (Reuters) - Concentration of global imbalances among a few large countries presents a risk to the world economy and could disrupt financial markets, a senior International Monetary Fund official said on Wednesday.
“We have witnessed sustained periods of imbalances. While they have narrowed since the (global financial) crisis, they remain above desirable levels,” IMF Deputy Managing Director Mitsuhiro Furusawa said.
Cooperation between countries that have current account deficits and those that have surpluses is required to address such imbalances, he told an IMF-hosted seminar in Tokyo on the international monetary system in Asia.
Reporting by Leika Kihara; Editing by Chris Gallagher