Country risk poll: Regional breakdown

To obtain the overall country risk score, Euromoney assigns a weighting to nine categories. These are political risk (25% weighting), economic performance (25%), debt indicators (10%), debt in default or rescheduled (10%), credit ratings (10%), access to bank finance (5%), access to short-term finance (5%), access to capital markets (5%), forfaiting (5%). • Political risk: the risk of non-payment or non-servicing of payment for goods or services, loans, trade-related finance and dividends, and the non-repatriation of capital. Risk analysts give each country a score between 10 and zero: the higher, the better.

• Economic performance: based on the results of a Euromoney poll of economic projections and on GNI (Atlas Method) figures per capita.

• Debt indicators: calculated using these ratios from the World Bank’s Global Development Finance 2007: (a) total debt stocks to GNP; (b) debt service to exports; and (c) current account balance to GNP. Developing countries that do not report complete debt data get a score of zero.

• Debt in default or rescheduled: scores are based on the ratio of rescheduled debt to debt stocks, taken from the World Bank’s Global Development Finance 2007. OECD and developing countries that do not report under the debtor reporting system score 10 and zero respectively.

• Credit ratings: nominal values are assigned to sovereign ratings from Moody’s, Standard & Poor’s and Fitch IBCA. The higher the average value, the better. Where there is no rating, countries score zero.

• Access to bank finance: calculated from disbursements of private, long-term, unguaranteed loans as a percentage of GNP. Source: World Bank’s Global Development Finance 2007.

• Access to short-term finance: takes into account OECD consensus groups (source: ECGD) and short-term cover available from the US Exim Bank and Atradius UK.

• Access to capital markets: heads of debt syndicate and loan syndications rated each country’s accessibility to international markets.

• Discount on forfaiting: reflects the average maximum tenor for forfaiting. Countries where forfaiting is not available score zero. We would like to thank Atradius, London Forfaiting, Mezra Forfaiting and WestLB, which kindly supplied data.

Western Europe
Corruption adjusted risk		Corruption adjusted score (100)	Overall risk score (100)	Sept ’07 global risk rank	Diff in rank with CPI
1	Norway	99.14	99.51	2	1
2	Luxembourg	99.11	99.59	1	-1
3	Switzerland	98.84	99.04	3	0
4	Denmark	95.93	95.78	4	0
5	Sweden	94.97	94.92	5	0
6	Finland	94.39	94.11	9	3
7	Netherlands	94.21	94.39	8	1
8	Ireland	93.81	94.65	6	-2
10	Austria	93.15	93.33	10	0
11	United Kingdom	93.01	93.18	11	0
12	Iceland	92.51	92.13	14	2
14	Germany	91.94	92.37	13	-1
16	Belgium	91.12	91.88	16	0
17	France	91.03	91.73	17	0
21	Spain	88.06	88.92	21	0
22	Italy	84.31	85.97	22	0
24	Portugal	83.56	84.30	23	-1
27	Greece	80.06	81.77	27	0
32	Malta	76.97	77.49	32	0
33	Cyprus	75.38	76.24	33	0
North America
Corruption adjusted risk		Corruption adjusted score (100)	Overall risk score (100)	Sept ’07 global risk rank	Diff in rank with CPI
9	United States	93.66	94.54	7	-2
13	Canada	92.38	92.58	12	-1
Middle East
Corruption adjusted risk		Corruption adjusted score (100)	Overall risk score (100)	Sept ’07 global risk rank	Diff in rank with CPI
29	United Arab Emirates	78.87	79.58	29	0
30	Kuwait	78.12	79.52	30	0
31	Qatar	77.76	78.52	31	0
35	Bahrain	71.65	72.26	35	0
38	Saudi Arabia	69.99	71.77	36	-2
39	Israel	69.86	70.29	39	0
47	Oman	65.61	66.07	47	0
70	Turkey	52.02	52.64	68	-2
74	Jordan	49.94	49.67	74	0
100	Iran	40.33	40.94	98	-2
110	Lebanon	38.88	38.95	116	6
123	Syria	37.07	37.41	122	-1
126	Yemen	36.57	37.04	127	1
183	Iraq	6.63	5.97	183	0
Latin America
Corruption adjusted risk		Corruption adjusted score (100)	Overall risk score (100)	Sept ’07 global risk rank	Diff in rank with CPI
40	Chile	69.17	68.83	44	4
51	Mexico	62.91	64.33	50	-1
66	Brazil	53.69	54.66	66	0
68	Costa Rica	52.22	52.69	67	-1
72	Panama	51.51	52.47	71	-1
73	Colombia	49.96	50.42	73	0
75	Peru	48.90	49.63	75	0
76	El Salvador	47.59	47.88	77	1
78	Uruguay	46.91	45.92	85	7
86	Guatemala	45.04	45.94	84	-2
103	Honduras	39.40	40.07	104	1
106	Argentina	39.24	39.69	109	3
117	Venezuela	38.11	38.82	118	1
121	Paraguay	37.60	38.13	121	0
122	Belize	37.30	37.35	123	1
139	Bolivia	34.19	34.50	140	1
145	Ecuador	33.71	34.20	144	-1
152	Nicaragua	30.99	31.18	152	0
153	Suriname	30.21	30.16	153	0
Eastern Europe
Corruption adjusted risk		Corruption adjusted score (100)	Overall risk score (100)	Sept ’07 global risk rank	Diff in rank with CPI
26	Slovenia	81.57	82.31	26	0
36	Czech Republic	70.48	71.50	37	1
43	Hungary	68.23	68.93	43	0
44	Poland	67.53	68.98	42	-2
45	Estonia	67.25	67.12	46	1
46	Slovak Republic	66.45	67.32	45	-1
48	Latvia	64.20	64.96	48	0
50	Lithuania	63.18	63.84	52	2
56	Croatia	58.66	59.82	56	0
58	Bulgaria	58.02	58.84	59	1
60	Russia	57.78	59.37	57	-3
63	Romania	55.93	57.12	63	0
81	Ukraine	46.00	46.84	80	-1
83	FYR Macedonia	45.29	46.15	83	0
85	Azerbaijan	45.16	46.17	82	-3
87	Serbia	44.02	44.66	87	0
102	Armenia	39.90	40.39	103	1
105	Bosnia-Herzegovina	39.26	39.72	107	2
115	Albania	38.59	39.16	114	-1
124	Georgia	36.79	37.17	125	1
136	Belarus	34.70	35.34	135	-1
146	Moldova	33.67	33.69	146	0
Caribbean
Corruption adjusted risk		Corruption adjusted score (100)	Overall risk score (100)	Sept ’07 global risk rank	Diff in rank with CPI
41	Barbados	69.12	69.09	41	0
53	Trinidad & Tobago	62.59	64.05	51	-2
89	Jamaica	42.42	42.62	91	2
95	Dominican Republic	41.43	42.04	93	-2
99	Dominica	40.85	40.55	102	3
148	Grenada	32.20	31.99	149	1
149	Guyana	32.07	32.37	147	-2
169	Haiti	26.04	26.40	168	-1
180	Cuba	13.49	12.34	181	1
Australasia
Corruption adjusted risk		Corruption adjusted score (100)	Overall risk score (100)	Sept ’07 global risk rank	Diff in rank with CPI
15	Australia	91.84	91.90	15	0
18	New Zealand	90.16	89.67	19	1
98	Fiji	41.03	40.88	99	1
176	Micronesia (Fed. States)	20.16	21.16	176	0
Asia
Corruption adjusted risk		Corruption adjusted score (100)	Overall risk score (100)	Sept ’07 global risk rank	Diff in rank with CPI
19	Singapore	89.45	89.03	20	1
20	Japan	89.38	89.89	18	-2
25	Hong Kong	83.43	83.28	25	0
28	Taiwan	79.66	80.57	28	0
37	South Korea	70.03	70.87	38	1
49	Malaysia	64.16	64.76	49	0
55	China	61.03	62.36	54	-1
59	India	57.88	59.05	58	-1
61	Thailand	57.52	58.52	60	-1
65	Kazakhstan	54.44	55.81	64	-1
67	Macau	52.92	52.12	72	5
77	Vietnam	47.32	48.34	76	-1
80	Philippines	46.69	47.72	78	-2
84	Indonesia	45.21	46.22	81	-3
88	Sri Lanka	42.88	43.41	88	0
92	Pakistan	42.04	43.00	89	-3
101	Bhutan	40.21	39.09	115	14
114	Papua New Guinea	38.59	39.27	113	-1
116	Mongolia	38.46	38.93	117	1
128	Bangladesh	36.47	37.25	124	-4
134	Turkmenistan	35.08	35.69	133	-1
138	Uzbekistan	34.20	34.82	137	-1
141	Laos	34.07	34.42	142	1
143	Cambodia	33.97	34.57	139	-4
144	Nepal	33.91	34.30	143	-1
155	Myanmar	29.64	30.14	154	-1
163	Tajikistan	28.45	28.73	163	0
172	Kyrgyz Republic	25.35	25.47	172	0
185	North Korea	5.39	4.92	185	0
Africa
Corruption adjusted risk		Corruption adjusted score (100)	Overall risk score (100)	Sept ’07 global risk rank	Diff in rank with CPI
52	Botswana	62.82	63.05	53	1
54	South Africa	61.39	62.06	55	1
57	Mauritius	58.11	58.36	61	4
62	Tunisia	57.45	57.92	62	0
64	Morocco	54.46	55.52	65	1
71	Egypt	51.72	52.59	69	-2
79	Algeria	46.88	47.61	79	0
91	Ghana	42.31	42.71	90	-1
94	Seychelles	41.69	41.90	94	0
96	Senegal	41.03	41.36	96	0
107	Lesotho	39.21	39.51	111	4
108	Swaziland	39.05	39.70	108	0
109	Kenya	38.99	39.79	105	-4
112	Mozambique	38.83	39.31	112	0
118	Nigeria	38.06	38.82	119	1
119	Tanzania	38.01	38.40	120	1
125	Gabon	36.69	36.97	128	3
127	Cameroon	36.48	37.11	126	-1
129	Uganda	36.38	36.80	129	0
130	Equatorial Guinea	35.74	36.43	130	0
131	Angola	35.71	36.35	131	0
132	Benin	35.56	36.03	132	0
133	Mali	35.33	35.64	134	1
135	Burkina Faso	35.00	35.08	136	1
137	Zambia	34.38	34.74	138	1
140	Madagascar	34.08	34.17	145	5
147	Namibia	32.23	31.70	151	4
150	Niger	31.66	32.04	148	-2
151	Ethiopia	31.54	31.87	150	-1
154	Mauritania	30.01	29.89	155	1
156	Togo	29.64	29.77	157	1
157	Malawi	29.49	29.56	160	3
158	Rwanda	29.42	29.59	158	0
159	Sudan	29.41	29.83	156	-3
160	Côte d’Ivoire	29.20	29.56	159	-1
161	Sierra Leone	28.93	29.24	161	0
162	Chad	28.69	29.08	162	0
164	Central African Republic	28.38	28.55	164	0
165	Congo	28.22	28.49	165	0
166	Gambia	27.77	27.86	166	0
167	Guinea	26.99	27.35	167	0
168	Eritrea	26.52	26.33	169	1
170	Libya	25.91	25.80	170	0
173	Burundi	23.59	23.52	173	0
174	Guinea-Bissau	23.32	22.22	175	1
177	Zimbabwe	20.05	19.80	177	0
179	Dem. Rep. of the Congo (Zaire)	17.75	17.59	179	0

Country risk poll September 2007: Positive feeling

Country risk poll: 1-100

Country risk poll: 101-185

Methodology

Tags Surveys and Awards

Country risk poll: Regional breakdown

Americas’ transaction banking banker of the year 2026: Scotiabank’s Chad Wallace

Brazil’s best cash management bank 2026: Santander

Argentina’s best cash management bank 2026: Santander

Chile’s best sustainable deal 2026: Santander for Patagoniafresh (Empresas Iansa)