Country Risk December 1997: It could be worse
After the emerging-markets crisis, which countries remain creditworthy?
To find out, Euromoney recalculated the country risk rankings we regularly publish every March and September. In mid-November we hastily contacted the economists and political analysts who contribute to the ranking and reran the other data. The results are enlightening. Asian countries which crashed in our September ranking slip only a litle further, suggesting we had anticipated much of the bad news in September. South Korea, for instance, slips to 30th from 27th in September and 22nd in March. Our economists are hardly more pessimistic than in September either: then they forecast US growth of 2.45% for 1998 when the consensus said 3.5%. Now they are forecasting 2.67%. Research by Rebecca Dobson.