g the current account deficit • 2006 2008 2010 2012 2014 1998 3000 20)2 3004 - 2016 2018 ~SOtan Africa CuReni AMU* Balance (lb GDP), rbB —8000 Mica Trade Bane (1sS0 an. 12m amp $Uonl. Scum Opted,. Bent Alsookand Which EM currencies will lag? The main risks to EM FX are USE) strength (and FX- hedging indu