Country risk September 1999: Daring to hope, fearing the worst

The emerging markets are bouncing back - at least some of them are. While they do, the market is holding its breath as crisis-hit countries implement fiscal and monetary reforms. And while economists believe growth rates will improve, they are also resigned to sovereign defaults on foreign debt. Commentary by Rebecca Cicolecchia, research by Alexa Marx.

For historical country risk data please visit the Euromoney Country risk website

Global Economic Projections, September 1999

According to the latest Euromoney country risk ranking, the key Asian economies have turned the corner. The region has made the necessary adjustments to regenerate growth, broadly benefited from new-found currency competitiveness and has begun to attract investors again, as governments, banks and corporates push ahead with restructuring plans. However, the scale of the challenges ahead is reflected by these countries’ modest rebound up the rankings.