The financial and economic turmoil being felt globally has placed a strain on both developed and emerging economies. The global pressure on liquidity may result in potential payment defaults by sovereigns and increased risk of transfer restrictions....
While the global survey underscores the importance of risk mitigation and information, only 23% of CEOs believe that they have complete information on the risks facing their businesses. Also notable, CEOs in emerging markets are slightly more positive on growth prospects even though overall confidence is low. Access key findings to learn more.
Global Economic Prospects Update
The World Bank forecasts a historic contraction in global GDP of 1.7 percent this year following 8 years of growth. This GEP report update highlights Europe, Central Asia, Latin America and the Caribbeans as the regions most affected by the economic downturn with East Asia and the Pacific seeing a sharp drop in investment and trade levels.
Sovereign 2008 Tansition and Default Study
Fitch Ratings looks at the performance of sovereign ratings on 2008 as well as trends since 1995. The study underscores the increased downward pressure placed on ratings by the global economic slowdown and the financial markets. In 2008, 14 ratings actions brought sovereign downgrades to 13.6% with much of this activity in Emerging Europe. Register and access the full report free-of-charge.
RiskMap 2009In this report, ControlRisks discusses the looming effect of the global credit crisis on political stability and goes in depth on its country ratings. RiskMap 2009 highlights a general increase in political risk globally with 18 countries being downgraded over the past year and even the creation of a new higher risk category. There is some good news though as 13 country ratings were upgraded. Sovereign Perspective on Central and Eastern Europe, Russia, and the CIS
In February 2009 Standard & Poor's lowered its long-term foreign currency rating on Latvia and its sovereign rating on Ukraine, while also placing the ratings on Estonia and Lithuania on Credit Watch with Negative implications. In a teleconference held on March 5, 2009 S&P discussed the outlook on Central and Eastern Europe, Russia and the CIS from a sovereign ratings perspective.
