September 1998
Country risk: How the mighty are falling
It's a measure of the turmoil in world markets that not a single bank was at first prepared to supply the forfaiting rates used by Euromoney in its calculation of these country-risk rankings. So fast were things changing that even these usually stable indicators became too volatile. Banks supplied them on request on a day-by-day basis to clients an indication of how difficult trade finance, the lubricant of the real economy, was becoming.
Country risk: Country risk revisited Country risk: Reasons for big changes Country risk: Methodology
The story of this year's table is Russia. The former superpower drops below even non-reformist ex-Soviet republics such as Uzbekistan, below Tajikistan, Pakistan and Kazakhstan. Default, particularly default accompanied by government...
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