Asia’s stronger performance over Latin America enters a fifth year, with a lower risk quotient in Euromoney’s crowd-sourcing survey.

Prospects are improving, but the negative impact of Qatar’s isolation, given oil price volatility and the lack of diversification, has removed the cushion of safety the region took for granted.

Sovereign ratings are lagging behind as risk experts continue to upgrade both countries.

With strong GDP continuing, global investor risk moderated in 2018, according to Euromoney’s country risk survey – but analysts are poised for a bumpy ride in 2019.

After a poor 2018, the new year has hardly begun any more propitiously, with the lira succumbing to further currency pressure.

Investor risk is at its lowest than at any time this decade, as countries in the region exhibit improving fiscal metrics thanks to grade-one economic conditions – but will they last?

Economic growth is slowing and the fiscal metrics are off-kilter, implying its sovereign borrower A-grade ratings are too high.

Euromoney’s survey experts doubt that Jair Bolsonaro will make a successful stab at the presidency, as his controversial personal style and lack of experience make it difficult to legislate for reforms.

The tests say little about the increased or decreased risks to bank stability, but Euromoney’s country risk survey can help fill in the gaps.

A reform-minded government and resilient economy have instilled confidence in Chile’s prospects among analysts, despite the risks.

With analysts rating Peru a similar risk to China and Malaysia, Euromoney’s survey indicates that Fitch and Standard & Poor’s should upgrade in line with Moody’s.

The country is powering ahead as it seeks to tap $20 billion in foreign-currency borrowings through to 2022, starting with Pandas and Samurais, and a $5 billion Eurobond.

The region contains countries with current-account surpluses that will benefit from trade relocation from China.

The Balkans country has enjoyed the biggest jump in risk score over five years thanks to better economic fortunes and capital access, but structural reforms are key to a higher credit rating.

Euromoney’s latest risk survey has downgraded Poland again – despite its strong economic growth – as the populist-conservative government completes its third of four years in office.

Investor safety has come under close scrutiny since June, resulting in a small but discernible decline in the global average risk score, halting a four-quarter improving trend.

Euromoney’s survey of risk experts shows the sovereign borrower on an improving score trend, which is already warranting a BB credit rating.

Choosing the right path will open up new investment opportunities.