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Country Risk

Country Risk


DEFINITION of ‘Euromoney Country Risk ‘

An evaluation of investment risk based on the political and economic stability of (currently) 186 countries worldwide. Euromoney Country Risk (ECR) is a measure of risk derived from a forum that aggregates the opinions of over 400 invernational economists and policy analysts throughout the world. The Euromoney Country Risk assessment provides updated rankings for each country’s investment risk by using 15 criteria, including political risk, economic performance, structural assessment, debt indicators, credit ratings, access to bank finance and access to capital markets. Each country receives an ECR score on a 100-point scale, where 100 is considered the safest (no risk) and a score of 0 (zero) equals maximum risk.[1]


What is ECR?

ECR is our new online tool for analysing sovereign and political risk
It is a survey of economists’ opinion of country risk covering 186 countries
It is also a social network of economists and country risk analysts [2]


The ECR scores are scaled from 0 to 100 (100= no risk, 0= maximum risk). The scores are not designed to correspond to any other rating systems but many users do ask for a comparative guide, particularly to credit ratings. ECR tiers its countries in 5 Tiers. Below is the description of how countries in those tiers can be characterized with a rough guide to an equivalent credit rating band.[3]





Euromoney Country Risk (ECR) is an online community of economic and political experts that provide real time scores in 15 categories that relate to economic, structural and political risk. The consensus expert scores, combined with data from the IMF/ World Bank on debt indicators, a survey of debt syndicate managers at international banks on access to capital and Moodys/Fitch credit ratings create the Euromoney Country Risk score (100) for 187 individual countries.

ECR evaluates the investment risk of a country, such as risk of default on a bond, risk of losing direct investment, risk to global business relations etc, by taking a qualitative model, which seeks an expert opinion on risk variables within a country (70% weighting) and combining it with three basic quantitative values (30% weighting).[4]


 Who are the “Experts ” and where can I view their details?

ECR Experts are analysts recruited by Euromoney to score countries for which they have expertise. Economists and policy analysts from the commercial, academic and non-governmental sectors can participate in the survey. Euromoney aims for a geographically diverse group of experts for any given country. The expert panel for each country can be viewed by clicking on the “Experts” tab (see below). A list of all the experts within the ECR system can be viewed under the “Members” header on the blue navigation bar.[5]


How do I follow a country?

Following a country lets you receive news, research and score change updates relating to that country..
To follow a country, go to ‘My Countries’ page (this can be selected by hovering the cursor over the “Countries” tab) and click “Add countries to follow”. Select the countries you wish to follow and press   “Add selected”.
Score changes, comments and new analysis for this country will now appear on the “My Updates” page and will be included in the email alerts you choose to receive.[6]



[1] http://www.investopedia.com/terms/e/euromoney-country-risk.asp

[2] https://www.euromoneycountryrisk.com/Aboutus

[3] https://www.euromoneycountryrisk.com/Faq

[4] https://www.euromoneycountryrisk.com/Methodology

[5] https://www.euromoneycountryrisk.com/Faq

[6] https://www.euromoneycountryrisk.com/Faq

Authors: Anna Krawczyk

Maciej Baginski

Co-Author:Diana Niti

Diana Niti
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