VIII Konferencja Inwestycyjna Schroders€¦ · I Konferencja Inwestycyjna Schroders. Rok 2017 i co...
Transcript of VIII Konferencja Inwestycyjna Schroders€¦ · I Konferencja Inwestycyjna Schroders. Rok 2017 i co...
-
Matthew Michael Product Manager, EMD&Commodities
VIII Konferencja Inwestycyjna Schroders Rok 2017 i co dalej; dług rynków wschodzących jako kluczowa klasa aktywów dywersyfikująca portfel
-
Unconstrained Benchmark Relative
Schroder Franchise Absolute / Total Return Corporates Multi-Sector
Fund Name EM Debt AR EM Corporate Bond EM Bond / EM Multi-Sector Bond
Return Maximise Return Outperform CEMBI Broad Div. by 2% pa.
Outperform Composite Benchmark** by
2-3% pa.
Risk Preserve Capital Tracking Error Limit Tracking Error Limit
Investment Universe EM Local / External / Corporate / Currencies EM Corporate EM Local / External / Corporate / Currencies
Use of Corporates Periodic / Max 25% Yes Yes
Use of Cash Aggressive use of cash to preserve capital Limited Limited
Inception Date August 1997 July 2012 July 2012
Fund Manager A Guezour + Team R de Mello J Barrineau & R de Mello
Schroder Global EMD* Capabilities Product Mapping
1
* Emerging Market Debt is referred to as EMD throughout this presentation ** ⅓ GBI-EM Diversified, ⅓ EMBI Global Diversified, ⅓ CEMBI Broad Diversified
Objectives
Source: Schroders
-
EMD Fund Universe Investment styles
2
Source: Schroders
Beta Schroder ISF EMD Absolute Return Hedge Fund
Assets External, local debt, sovereigns and
corporates, currencies Both single and Multi Sector
External and local debt, sovereigns and corporates, currencies
External, local debt, sovereigns or corporates, currencies
Style Index-relative Absolute return, unconstrained, long-only and unleveraged Hedge Fund
(Long/Short, Leveraged)
Use of Derivatives Yes No Yes
Use of Corporates Heavy Periodic Heavy
Risk Over-concentrated Diversified Variable
Preservation of Capital No Yes No
Liquidity Variable – can be very poor Good Poor
Track Record Variable Long Variable / generally poor
-
Would you invest in : / Czy zainwestowałbyś w ?: • An active approach / Strategia aktywnie zarządzana
• An ETF / ETF • Both / Oba wyżej wymienione
• Avoid / Żadne z powyższych
Question 1
3
-
2016 – A Post Crisis Era?
4
Stage 1 Post Crisis
Stage 2 Recovery
Stage 3 Euphoria
Stage 4 Crisis
Stage 1 Post Crisis
Macro adjustment, high asset price
volatility
Reforms and sound fundamentals,
differentiation in asset performance
Policy mistakes and macro imbalances
Devaluation, emergency rate hikes and credit crisis. Panic selling
Macro adjustment, high asset price
volatility
Source: Bloomberg; Schroders – 31st January 2017, * from January 2016 to January 2017, ** C NAV Gross, # Based on Calendar year to Calendar Year
1998 – 2001# 2002 -2009 2010 - 2012 2013 - 2015 2016 - ?
Return Vol Sharpe Return Vol Sharpe Return Vol Sharpe Return Vol Sharpe Return* Vol
GBI EM - - - 13.32% 11.51% 0.62 8.29% 14.24% 0.49 -10.07% 11.27% -0.13 13.25 15.92
ELMI+ 8.78% 6.36% 0.61 9.24% 7.25% 0.93 2.49% 9.58% 0.30 -5.59% 5.70% -0.18 5.00 8.27
EMBI+ 13.06% 12.56% 0.69 11.91% 10.65% 0.99 12.95% 6.73% 1.95 -0.30% 7.56% 0.86 10.27 7.96
SISF EMD AR**
16.17% 9.16% 1.23 11.48 % 5.81% 1.49 3.06% 3.62% 0.84 -1.11% 3.62% 0.26 10.53 7.84
-
An investment in EMD today offers: Inwestycja w dług rynków wschodzących dzisiaj oferuje: • A classic ‘Post Crisis’ investment opportunity / Klasyczną
‚pokryzysową’ okazję inwestycyjną
• Too much risk, so best to avoid it / Zbyt duże ryzyko, najlepiej unikać tej klasy aktywów
• Interesting but I’ll stick to credit and corporates for now /
Interesujące ale pozostanę przy obligacjach korporacyjnych
Question 2
5
-
Investment outlook Summary
6
Source: Schroders
Currencies
EM Currencies are broadly undervalued. Trade competitiveness has been restored Most currencies reached extreme oversold levels and subsequently reversed (eg.
BRL, CLP, COP, RUB, ZAR, MYR). Currencies of India, Indonesia and Central Europe are likely to be supported by
recovering growth and stronger balance of payments
Reinstate large exposures once the recent correction has run its course
Local Debt
A significant monetary tightening has already occurred in a number of countries Yields are still high in Brazil, Colombia, Russia, South Africa, Indonesia and India Inflation has peaked in these countries… …and their central banks are regaining the ability to ease
Core exposure to selected markets
Hard Currency Debt
Expensive valuations Over-owned Poor liquidity (especially for Corporates) Very vulnerable to FED rate hikes
Maintain minimal exposure
-
Investment outlook
7
Source: Google; Schroders – May 2016
Emerging Markets Fundamental Analysis
Crisis brings change
India Indonesia Argentina Brazil South Africa
Prime Minister N. Modi
President J. Widodo
President M. Macri
President D. Rousseff
President J. Zuma
-
Investment outlook
8
Source: Schroders; Thomson DataStream; Bank of Indonesia – 31 January 2017
-20
-10
0
10
20
30
40
50
1980 1984 1988 1992 1996 2000 2004 2008 2012 2016
Crisis brings change
0
2
4
6
8
10
12
14
16
18
20
2001 2003 2005 2007 2009 2011 2013 2015 2017
CPI yoy
Country Analysis Fundamental Analysis
Indonesia – back to external trade surplus Trade balance in $billion – 12 month rolling sum
Indonesia – inflation back under control
-
EM Local vs EM External yields: highest, lowest and current
9
01020304050607080
Arg
entin
a
Bra
zil
Col
ombi
a
Indo
nesi
a
Mal
aysi
a
Mex
ico
Nig
eria
Pan
ama
Per
u
Phi
lippi
nes
Pol
and
Rus
sia
Sou
th A
frica
Turk
ey
Ukr
aine
Ven
ezue
la
Sector Long term Average
Source: Schroders; Bloomberg; JP Morgan – 31 January 2017
0
5
10
15
20
25
30
Bra
zil
Chi
le B
road
Chi
na
Col
ombi
a
Hun
gary
Indi
a
Indo
nesi
a
Mal
aysi
a
Mex
ico
Per
u
Pol
and
Rus
sia
Sou
th A
frica
Thai
land
Turk
ey
Sector Long term Average
Loca
l Bon
d Yi
eld
%
Exte
rnal
Bon
d Yi
eld
%
Investment outlook Global Environment Valuations
-
60
65
70
75
80
85
90
95
100
105
110
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
-25%
-24%
-40%
The collapse in EM Currencies appears overdone JP Morgan EM Currency Index 2000-2017
10
Source: JP Morgan; Bloomberg – 31 January 2017
Emerging Markets Fundamental Analysis
Investment outlook
-
Investment outlook
11
Source: Schroders - 30 December 2016
EEMEA
Av EM
Latam
Asia
Hot Money Indicator – Average country score by region
-1,0
-0,8
-0,6
-0,4
-0,2
0,0
0,2
0,4
0,6
0,8
1,0
1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016
Emerging Markets Quantitative Analysis
-
-12
-10
-8
-6
-4
-2
0
2
4
6
8
10
12
Saud
i Ara
bia
Tuni
sia
Nig
eria
Luxe
mbo
urg
UA
EEg
ypt
Chi
naTu
rkey
Aust
ralia
Kuw
ait
Sing
apor
eKe
nya
Nor
way
Latv
iaPa
nam
aIn
done
sia
Peru
Bots
wan
aO
man
Leba
non
Can
ada
Col
ombi
aIra
nLi
thua
nia
Kaza
khst
anM
alay
sia
Uru
guay
Vene
zuel
aD
omin
ican
Rep
ublic
New
Zea
land
Uni
ted
Sta
tes
Slov
akia
Mor
occo
Jord
anBe
lgiu
mTh
aila
ndPo
land
Ukr
aine
Switz
erla
ndBr
azil
Viet
nam
Irela
ndAl
geria
Chi
leH
ong
Kong
Finl
and
Swed
enM
exic
oBa
hrai
nFr
ance
Arge
ntin
aU
nite
d K
ingd
omR
ussi
aC
zech
Rep
ublic
Esto
nia
Net
herla
nds
Ecua
dor
Philip
pine
sPa
kist
anAu
stria
Indi
aJa
mai
caR
oman
iaSp
ain
Taiw
anJa
pan
Portu
gal
Ivor
y C
oast
Gre
ece
Sout
h Af
rica
Isra
elKo
rea
Bulg
aria
Italy
Euro
zone
Hun
gary
Ger
man
yC
roat
ia
High risk of crisis
Investment outlook
12
Source: Schroders – December 2016
Country Risk Score – December 2016
Global Environment Quantitative Analysis
Chart2
TurkeyTurkeyTurkeyTurkeyTurkeyTurkeyTurkey
ChinaChinaChinaChinaChinaChinaChina
SingaporeSingaporeSingaporeSingaporeSingaporeSingaporeSingapore
KenyaKenyaKenyaKenyaKenyaKenyaKenya
AustraliaAustraliaAustraliaAustraliaAustraliaAustraliaAustralia
jordanjordanjordanjordanjordanjordanjordan
CanadaCanadaCanadaCanadaCanadaCanadaCanada
LuxembourgLuxembourgLuxembourgLuxembourgLuxembourgLuxembourgLuxembourg
PeruPeruPeruPeruPeruPeruPeru
TunisiaTunisiaTunisiaTunisiaTunisiaTunisiaTunisia
MoroccoMoroccoMoroccoMoroccoMoroccoMoroccoMorocco
IndonesiaIndonesiaIndonesiaIndonesiaIndonesiaIndonesiaIndonesia
ColombiaColombiaColombiaColombiaColombiaColombiaColombia
PolandPolandPolandPolandPolandPolandPoland
KuwaitKuwaitKuwaitKuwaitKuwaitKuwaitKuwait
IndiaIndiaIndiaIndiaIndiaIndiaIndia
BrazilBrazilBrazilBrazilBrazilBrazilBrazil
IrelandIrelandIrelandIrelandIrelandIrelandIreland
UkraineUkraineUkraineUkraineUkraineUkraineUkraine
BelgiumBelgiumBelgiumBelgiumBelgiumBelgiumBelgium
JamaicaJamaicaJamaicaJamaicaJamaicaJamaicaJamaica
Dominican RepublicDominican RepublicDominican RepublicDominican RepublicDominican RepublicDominican RepublicDominican Republic
ChileChileChileChileChileChileChile
New ZealandNew ZealandNew ZealandNew ZealandNew ZealandNew ZealandNew Zealand
BotswanaBotswanaBotswanaBotswanaBotswanaBotswanaBotswana
NigeriaNigeriaNigeriaNigeriaNigeriaNigeriaNigeria
QatarQatarQatarQatarQatarQatarQatar
VietnamVietnamVietnamVietnamVietnamVietnamVietnam
SlovakiaSlovakiaSlovakiaSlovakiaSlovakiaSlovakiaSlovakia
LebanonLebanonLebanonLebanonLebanonLebanonLebanon
ThailandThailandThailandThailandThailandThailandThailand
BahrainBahrainBahrainBahrainBahrainBahrainBahrain
UruguayUruguayUruguayUruguayUruguayUruguayUruguay
LatviaLatviaLatviaLatviaLatviaLatviaLatvia
MexicoMexicoMexicoMexicoMexicoMexicoMexico
PanamaPanamaPanamaPanamaPanamaPanamaPanama
MalaysiaMalaysiaMalaysiaMalaysiaMalaysiaMalaysiaMalaysia
FinlandFinlandFinlandFinlandFinlandFinlandFinland
UAEUAEUAEUAEUAEUAEUAE
BulgariaBulgariaBulgariaBulgariaBulgariaBulgariaBulgaria
Saudi ArabiaSaudi ArabiaSaudi ArabiaSaudi ArabiaSaudi ArabiaSaudi ArabiaSaudi Arabia
LithuaniaLithuaniaLithuaniaLithuaniaLithuaniaLithuaniaLithuania
EgyptEgyptEgyptEgyptEgyptEgyptEgypt
FranceFranceFranceFranceFranceFranceFrance
AustriaAustriaAustriaAustriaAustriaAustriaAustria
SwitzerlandSwitzerlandSwitzerlandSwitzerlandSwitzerlandSwitzerlandSwitzerland
KazakhstanKazakhstanKazakhstanKazakhstanKazakhstanKazakhstanKazakhstan
VenezuelaVenezuelaVenezuelaVenezuelaVenezuelaVenezuelaVenezuela
RomaniaRomaniaRomaniaRomaniaRomaniaRomaniaRomania
RussiaRussiaRussiaRussiaRussiaRussiaRussia
GreeceGreeceGreeceGreeceGreeceGreeceGreece
Czech RepublicCzech RepublicCzech RepublicCzech RepublicCzech RepublicCzech RepublicCzech Republic
SpainSpainSpainSpainSpainSpainSpain
EstoniaEstoniaEstoniaEstoniaEstoniaEstoniaEstonia
Ivory CoastIvory CoastIvory CoastIvory CoastIvory CoastIvory CoastIvory Coast
EcuadorEcuadorEcuadorEcuadorEcuadorEcuadorEcuador
NorwayNorwayNorwayNorwayNorwayNorwayNorway
USAUSAUSAUSAUSAUSAUSA
PakistanPakistanPakistanPakistanPakistanPakistanPakistan
IranIranIranIranIranIranIran
OmanOmanOmanOmanOmanOmanOman
CroatiaCroatiaCroatiaCroatiaCroatiaCroatiaCroatia
JapanJapanJapanJapanJapanJapanJapan
AlgeriaAlgeriaAlgeriaAlgeriaAlgeriaAlgeriaAlgeria
Hong KongHong KongHong KongHong KongHong KongHong KongHong Kong
PhilippinesPhilippinesPhilippinesPhilippinesPhilippinesPhilippinesPhilippines
PortugalPortugalPortugalPortugalPortugalPortugalPortugal
SwedenSwedenSwedenSwedenSwedenSwedenSweden
South AfricaSouth AfricaSouth AfricaSouth AfricaSouth AfricaSouth AfricaSouth Africa
IsraelIsraelIsraelIsraelIsraelIsraelIsrael
TaiwanTaiwanTaiwanTaiwanTaiwanTaiwanTaiwan
ItalyItalyItalyItalyItalyItalyItaly
UKUKUKUKUKUKUK
NetherlandsNetherlandsNetherlandsNetherlandsNetherlandsNetherlandsNetherlands
ArgentinaArgentinaArgentinaArgentinaArgentinaArgentinaArgentina
EurozoneEurozoneEurozoneEurozoneEurozoneEurozoneEurozone
HungaryHungaryHungaryHungaryHungaryHungaryHungary
South KoreaSouth KoreaSouth KoreaSouth KoreaSouth KoreaSouth KoreaSouth Korea
GermanyGermanyGermanyGermanyGermanyGermanyGermany
Growth Dynamics
Sovereign External Liquidity
Hot Money Indicator
Bank External Liquidity
Competitiveness
Economic Leverage
Total Risk Score
-1.1022709396
-0.9498700438
-1.3527126071
-1.8132799048
-0.4405691333
-2
-7.6587026287
-1.2871260205
0.6756805786
-1.9159421858
-0.8522724355
-1.5976586752
-2
-6.9773187383
0.1883264801
0.3678669242
-1.411726473
-1.9397686694
-1.9670805175
-2
-6.7623822557
-0.0662541436
0.7123790875
-1.8064276846
-0.9768276639
-2
-2
-6.1371304047
0.4401501801
-0.494486517
-1.8367292565
-1.4866706136
-1.6972071271
-0.6304259646
-5.7053692986
-1.0145779182
-0.8494937832
-1.7882492993
-1.2141717376
-0.1171051075
0.384268958
-4.5993288877
-1.0274943512
-0.4960403064
-1.2813205811
-2
-0.8923119434
1.4694691432
-4.2276980389
-1.2330653422
-1.0863472437
-2
1.2831229573
-0.81903408
-0.3487049633
-4.204028672
-0.2862152461
1.1000173613
-1.1850281723
-0.8599055232
-0.6871235212
-2
-3.9182551016
-1.2049992784
-1.0384362264
-0.0737199626
-1.1738358956
1.7418949925
-2
-3.7490963705
-1.0345102418
-0.6196069392
-0.7847019233
-0.6097836021
0.7812655281
-1.1754240641
-3.4427612424
-1.0034408926
0.1806267794
-0.2482952993
-0.4732389099
0.1094349964
-2
-3.434913326
-0.3201818793
0.2548795159
-1.8750759182
0.4479311846
-1.4965563375
-0.3013923597
-3.2903957942
0.2699161482
0.3533920268
-0.446888799
-0.8825404941
-0.7977650821
-1.6522422131
-3.1561284133
0.1703570819
0.5566838572
-1.8072257189
0.6524760795
-2
-0.5992190097
-3.0269277101
-1.0225002286
-0.0571325817
-1.1785038309
1.1583185656
-0.2916105551
-1.5407563661
-2.9321849968
-1.0906473922
1.5791421283
-2
0.4836031137
0.1560855364
-2
-2.8718166138
0.3710428068
-0.3998436102
-1.4219007883
0.0802002348
-0.3884370724
-1.0543702543
-2.8133086836
-0.2780795569
-1.8936735393
1.5050577237
-0.9825840076
0.4741522559
-1.6254584879
-2.8005856122
-1.1587884206
-1.3681716877
-1.0519202649
2
-0.5667643884
-0.6000687636
-2.7457135252
-1.0182997793
-0.9384147905
0.5168529888
2
-1.0499526058
-2
-2.4898141867
-1.0009638102
0.8452777171
0.4428816706
-0.1429798604
-0.6104424263
-2
-2.4662267092
-1.1173461625
-0.9797620072
-1.4770987308
0.4674835246
-1.1030300435
2
-2.2097534193
1.0258553711
-0.2608720185
-1.7871683008
-1.3634755549
-1.8165519915
2
-2.2022124946
0.0218652822
-1.2492534907
-0.1349958459
1.3821842673
-0.1467490053
-2
-2.1269487924
1.0131708909
0.4553477276
-2
-0.6503816475
-1.9438380826
1.0247583488
-2.1009427627
0.2207100541
1.1466501994
-2
-1.4327266965
-1.6166413349
1.6822458523
-1.9997619256
0.4868908624
1.1487609739
0.8452282624
-0.3360913783
-2
-2
-1.8552112796
0.4641948191
-0.7686302483
0.0655388543
0.7479534877
-1.5506501893
-0.724958801
-1.7665520774
1.0092880886
0.9067526602
1.0997290769
-1.403760523
-1.1406408388
-2
-1.5286315362
0.0342119569
0.6680822964
-0.2990831098
0.4170351882
-0.5394142209
-1.6590108669
-1.378178756
0.0756627066
0.4359859459
0.7816718462
-2
1.3997390017
-2
-1.3069404997
-1.0234228711
1.933311669
-1.8843751793
-0.0016340339
-2
1.6829696861
-1.2931507293
-0.0546323247
-0.4197935767
0.8896719414
-1.2000097444
-1.0158485292
0.829620598
-0.9709916357
1.0111718319
0.6094882992
-0.923026723
0.8885920239
-0.4245469743
-2
-0.8383215422
-0.3055371254
0.371748618
-1.8468880407
0.4508671944
-0.2568282634
0.871966563
-0.7146710542
-1.005587572
-0.1496187751
-1.5741413772
0.174330244
0.4924650634
1.3632738798
-0.6992785371
-1.0634121422
-0.9878428298
0.0176414123
0.4205873657
0.7085473366
0.3699282608
-0.5345505967
0.0864953916
1.1908659671
-1.4351036687
-0.8913403781
-1.4025176664
2
-0.4516003546
1.0260848185
0.5580642854
-0.2325238777
0.1995480433
-1.2884847206
-0.6924139919
-0.4297254429
1.0207906269
1.3790195694
-1.2586315268
-1.2837775755
0.938594079
-1.1926556019
-0.3966604288
1.08617354
0.7271571061
-0.4364493755
-0.6105644616
-1.2018435199
0.5220524381
0.0865257273
-1.2951831051
-0.7320616129
0.4040223295
0.9765559979
-0.8409876302
1.5838466746
0.0961926537
-1.1840052202
-1.3162373674
-2
1.8116048215
0.8460056268
2
0.1573678607
0.3547540947
-0.8368253384
-1.5860443439
1.1407896677
-0.3242209557
1.722229777
0.4706829013
-0.1259980108
2
-0.5728476235
-1.2836128524
-1.4786840904
2
0.5388574229
1.0736315912
0.3686612232
0.1132488122
2
-1.0321656475
-1.9504396151
0.572936364
-1.0855240791
-1.0267075229
-0.0824107384
2
-1.0260813962
2
0.7792762634
1.1663494038
1.3940878554
0.5997363437
-0.6170680671
-0.8562860063
-0.7917871762
0.8950323534
-0.3828367396
0.4325351797
0.7025531361
-0.0014755759
-1.7324050725
2
1.0183709278
0.6460181755
0.2096769499
2
-0.6784178853
-0.9013585172
-0.197130505
1.078788218
1.0210587156
2
0.5366545911
-0.12432712
-1.2307315642
-0.9309230114
1.2717316111
0.5151662554
0.1357073816
-1.858190817
2
-0.8917270743
1.5000929028
1.4010486485
1.0297241947
-0.8663156765
1.5842036617
-1.1353680443
-1.0462981429
1.9110673587
1.4770133514
-0.1412574515
0.6634585327
-1.6782184789
0.7151055694
0.0289305916
2
1.5880187632
1.0113849674
0.6658668734
-0.5565909682
1.0212691233
-0.8509445133
0.3208945816
1.6118800641
0.2996890122
0.2759569991
2
1.7907683388
-1.0353991727
-1.3426121472
1.9884030302
1.0394669034
0.5042884203
-1.1839310147
-1.2834340084
0.912178186
2
1.9885684865
0.0175843307
-0.2088838996
-1.7231076503
1.4376907743
0.4778180763
2
2.0011016315
-1.1191091176
0.3607691956
1.7498996874
0.7453559925
-0.7531201631
1.1866240205
2.1704196152
0.097464421
0.4911424693
2
-0.4185194201
2
-1.9869186397
2.1831688305
1.001267035
1.4527475651
0.2794016089
-0.0916650724
-0.8728093035
0.4926036884
2.2615455216
-1.0215861008
1.5378356326
-2
1.8258952996
1.913930429
0.0337978126
2.2898730731
-0.2821135781
0.9085984124
-1.4607653921
0.7653596634
0.5536700841
2
2.4847491897
-1.0862555236
1.088155957
-0.1862024547
0.3246334953
0.4214300537
2
2.5617615277
1.1970978487
1.4095003643
-0.0811978827
-0.3532915408
-1.5796210505
2
2.5924877389
0.5376990622
-0.1704927698
2
0.333906981
-0.7145280708
0.7036527327
2.6902379353
1.002034742
1.2662914028
-2
2
0.5003670884
-0.0039513302
2.7647419031
-1.0141392318
0.2958831772
-0.3716854222
0.7730878233
1.2936350636
1.9001790199
2.87696043
0.2703364785
1.1838412653
-0.6189124269
0.4715610089
-0.3336791726
2
2.9731471533
0.3963310259
0.7631976726
-1.5937427522
0.9701781694
1.1582981792
2
3.6942622949
0.3345784657
0.2852546804
0.1497377087
1.3278681752
-0.0045260969
1.730165694
3.823078627
-0.4304339342
-0.9533964295
1.224960494
2
0.1220410819
2
3.9631712123
0.6040128506
1.2231667533
2
2
-0.6803929416
-0.9613779982
4.1854086641
0.0004087251
0.6693412219
0.2230591962
0.9999475039
0.6775213758
2
4.5702780229
0.8250466693
0.2001385088
-0.8324178845
2
0.4553837358
2
4.6481510294
1.0746281212
1.8426122274
0.5368165662
0.7494555882
-1.0358424531
1.5174852424
4.6851552924
0.2251040631
1.3098898276
0.5321217114
-0.2138815914
0.8490510194
2
4.70228503
0.4935540766
0.819745886
2
0.9970211661
0.9914727538
2
7.3017938825
Summary Sheet
Change in ScoreScore By Risk FactorsYield Vs latest scoreReer Changes Vs latest score
CountryLast Quarter's ScoreThis Quarter's ScoreChange in ScoreGrowth DynamicsSovereign External LiquidityHot Money IndicatorBank External LiquidityCompetitivenessEconomic LeverageTotal Risk ScoreGrowth DynamicsSovereign External LiquidityHot Money IndicatorBank External LiquidityCompetitivenessEconomic LeverageTotal Risk ScoreCountryLatest ScoreSovereign YieldAveScoreY valuesAve YieldXvalues2010Long Term AverageReer % Deviation From long term MeanAve Reer ChangeCountrySovereign SpreadAlgeria
Vietnam-0.83-4.17-3.34-1.86Turkey-1.10-0.95-1.35-1.81-0.44-2.00-7.66Algeria-0.280.91-1.460.770.552.002.48Algeria2.480.00-0.541000.000.00-12.00000.0000.0014.80AlgeriaBotswana
Pakistan4.601.55-3.052.00China-1.290.68-1.92-0.85-1.60-2.00-6.98Botswana0.02-1.25-0.131.38-0.15-2.00-2.13Botswana-2.130.00-0.54982.000.00-11.63000.0000.000.97-6.49Argentina795Egypt
Taiwan5.784.32-1.463.69Singapore0.190.37-1.41-1.94-1.97-2.00-6.76Egypt-1.30-0.730.400.98-0.841.580.10Egypt0.10264.00-0.54964.000.00-11.26000.0000.000.94-1.99Belize861Ivory Coast
Ireland-1.41-2.81-1.41-2.81Kenya-0.070.71-1.81-0.98-2.00-2.00-6.14Ivory Coast-0.140.66-1.680.720.032.001.59Ivory Coast1.59766.00-0.54946.000.00-10.89000.0000.000.912.39Bulgaria343Kenya
Singapore-5.63-6.82-1.19-6.76Australia0.44-0.49-1.84-1.49-1.70-0.63-5.71Kenya-0.070.71-1.81-0.98-2.00-2.00-6.14Kenya-6.140.00-0.54928.000.00-10.52000.0000.000.88-2.51Brazil224Morocco
Brazil-4.30-5.44-1.14-2.87jordan-1.01-0.85-1.79-1.21-0.120.38-4.60Morocco-1.03-0.62-0.78-0.610.78-1.18-3.44Morocco-3.440.00-0.54910.000.00-10.15000.0000.000.85-5.15Ivory Coast766Nigeria
Qatar-0.77-1.90-1.13-2.00Canada-1.03-0.50-1.28-2.00-0.891.47-4.23Nigeria1.010.46-2.00-0.65-1.941.02-2.10Nigeria-2.1037.00-0.54892.000.00-9.78000.0000.000.820.25Chile152South Africa
Saudi Arabia3.622.68-0.94-0.40Luxembourg-1.23-1.09-2.001.28-0.82-0.35-4.20South Africa-1.010.30-0.370.771.291.902.88South Africa2.88181.00-0.54874.000.00-9.41000.0000.000.791.97China67Tunisia
Uruguay0.58-0.26-0.83-1.29Peru-0.291.10-1.19-0.86-0.69-2.00-3.92Tunisia-1.20-1.04-0.07-1.171.74-2.00-3.75Tunisia-3.75125.00-0.54856.000.00-9.04000.0000.000.76-1.70Colombia210China
Spain2.061.26-0.801.40Tunisia-1.20-1.04-0.07-1.171.74-2.00-3.75China-1.290.68-1.92-0.85-1.60-2.00-6.98China-6.9867.00-0.54838.000.00-8.67000.0000.000.73-1.66Croatia338Hong Kong
Netherlands4.944.19-0.764.19Morocco-1.03-0.62-0.78-0.610.78-1.18-3.44Hong Kong-1.091.09-0.190.320.422.002.56Hong Kong2.5657.10-0.54820.000.00-8.30000.0000.000.73.23Dom. Rep.424India
Lebanon-1.46-2.12-0.66-1.53Indonesia-1.000.18-0.25-0.470.11-2.00-3.43India-1.02-0.06-1.181.16-0.29-1.54-2.93India-2.930.00-0.54802.000.00-7.93000.0000.000.67-3.26Ecuador957Indonesia
Switzerland1.160.54-0.620.54Colombia-0.320.25-1.880.45-1.50-0.30-3.29Indonesia-1.000.18-0.25-0.470.11-2.00-3.43Indonesia-3.43257.00-0.54784.000.00-7.56000.0000.000.64-4.69Egypt264South Korea
jordan-4.68-5.25-0.57-4.60Poland0.270.35-0.45-0.88-0.80-1.65-3.16South Korea0.231.310.53-0.210.852.004.70South Korea4.70125.32-0.54766.000.00-7.19000.0000.000.612.62El Salvador329Malaysia
Kuwait-1.13-1.68-0.55-3.03Kuwait0.170.56-1.810.65-2.00-0.60-3.03Malaysia-1.01-0.15-1.570.170.491.36-0.70Malaysia-0.70164.00-0.54748.000.00-6.82000.0000.000.582.65Gabon422Philippines
Panama-0.25-0.78-0.52-0.71India-1.02-0.06-1.181.16-0.29-1.54-2.93Philippines1.201.41-0.08-0.35-1.582.002.59Philippines2.59236.00-0.54730.000.00-6.45000.0000.000.550.37Georgia482Singapore
Algeria2.822.31-0.512.48Brazil-1.091.58-2.000.480.16-2.00-2.87Singapore0.190.37-1.41-1.94-1.97-2.00-6.76Singapore-6.7645.00-0.54712.000.00-6.08000.0000.000.52-4.26Ghana462Taiwan
Iran2.491.99-0.502.17Ireland0.37-0.40-1.420.08-0.39-1.05-2.81Taiwan0.400.76-1.590.971.162.003.69Taiwan3.6980.00-0.54694.000.00-5.71000.0000.000.492.29Hungary329Thailand
Bahrain-0.26-0.75-0.49-1.31Ukraine-0.28-1.891.51-0.980.47-1.63-2.80Thailand0.030.67-0.300.42-0.54-1.66-1.38Thailand-1.38128.35-0.54676.000.00-5.34000.0000.000.46-0.21Kazakhstan398Vietnam
Malaysia-1.71-2.18-0.48-0.70Belgium-1.16-1.37-1.052.00-0.57-0.60-2.75Vietnam0.491.150.85-0.34-2.00-2.00-1.86Vietnam-1.86342.00-0.54658.000.00-4.97000.0000.000.43-6.14Indonesia257Bulgaria
Indonesia-4.54-5.00-0.46-3.43Jamaica-1.02-0.940.522.00-1.05-2.00-2.49Bulgaria1.030.56-0.230.20-1.29-0.69-0.43Bulgaria-0.43343.00-0.54640.000.00-4.60000.0000.000.4-1.42Iraq423Croatia
Dominican Republic-2.73-3.18-0.45-2.47Dominican Republic-1.000.850.44-0.14-0.61-2.00-2.47Croatia1.001.450.28-0.09-0.870.492.26Croatia2.26338.00-0.54622.000.00-4.23000.0000.000.37-3.96Jamaica513Czech Republic
South Korea4.113.69-0.424.70Chile-1.12-0.98-1.480.47-1.102.00-2.21Czech Republic1.022.000.54-0.12-1.23-0.931.27Czech Republic1.27100.50-0.54604.000.00-3.86000.0000.000.34-1.07Lithuania346Estonia
Egypt-0.11-0.41-0.300.10New Zealand1.03-0.26-1.79-1.36-1.822.00-2.20Estonia1.03-0.871.58-1.14-1.051.911.48Estonia1.480.00-0.54586.000.00-3.49000.0000.000.312.47Lebanon321Hungary
Tunisia-4.00-4.29-0.29-3.75Botswana0.02-1.25-0.131.38-0.15-2.00-2.13Hungary1.071.840.540.75-1.041.524.69Hungary4.69329.00-0.54568.000.00-3.12000.0000.000.28-0.82Malaysia164Kazakhstan
New Zealand-1.93-2.20-0.27-2.20Nigeria1.010.46-2.00-0.65-1.941.02-2.10Kazakhstan1.070.370.112.00-1.03-1.950.57Kazakhstan0.57398.00-0.54550.000.00-2.75000.0000.000.25-0.99Mexico199Latvia
Germany7.577.30-0.277.30Qatar0.221.15-2.00-1.43-1.621.68-2.00Latvia-0.05-0.420.89-1.20-1.020.83-0.97Latvia-0.970.00-0.54532.000.00-2.38000.0000.000.22-0.66Morocco0Lithuania
Lithuania0.390.15-0.250.09Vietnam0.491.150.85-0.34-2.00-2.00-1.86Lithuania1.090.73-0.44-0.61-1.200.520.09Lithuania0.09346.00-0.54514.000.00-2.01000.0000.000.19-0.38Nigeria37Poland
Romania0.750.53-0.220.90Slovakia0.46-0.770.070.75-1.55-0.72-1.77Poland0.270.35-0.45-0.88-0.80-1.65-3.16Poland-3.16194.00-0.54496.000.00-1.64000.0000.000.16-6.35Pakistan602Romania
Bulgaria0.180.07-0.11-0.43Lebanon1.010.911.10-1.40-1.14-2.00-1.53Romania1.171.390.60-0.62-0.86-0.790.90Romania0.900.00-0.54478.000.00-1.27000.0000.000.13-1.73Panama199Russia
Japan2.362.29-0.072.29Thailand0.030.67-0.300.42-0.54-1.66-1.38Russia-0.380.430.70-0.00-1.732.001.02Russia1.02262.00-0.54460.000.00-0.90000.0000.000.13.13Peru199Slovakia
Peru-5.06-5.060.00-3.92Bahrain0.080.440.78-2.001.40-2.00-1.31Slovakia0.46-0.770.070.75-1.55-0.72-1.77Slovakia-1.770.00-0.54442.000.00-0.53000.0000.000.07-2.89Philippines236Ukraine
Israel1.801.810.012.97Uruguay-1.021.93-1.88-0.00-2.001.68-1.29Ukraine-0.28-1.891.51-0.980.47-1.63-2.80Ukraine-2.80615.00-0.54424.000.00-0.16000.0000.000.04-3.17Poland194Argentina
Russia2.942.960.021.02Latvia-0.05-0.420.89-1.20-1.020.83-0.97Argentina0.000.670.221.000.682.004.57Argentina4.57795.00-0.54406.000.000.21000.0000.000.015.08Russia262Brazil
Austria0.390.470.080.47Mexico1.010.61-0.920.89-0.42-2.00-0.84Brazil-1.091.58-2.000.480.16-2.00-2.87Brazil-2.87224.00-0.54388.000.000.58000.0000.00-0.02-5.99Serbia435Chile
Luxembourg-4.30-4.200.10-4.20Panama-0.310.37-1.850.45-0.260.87-0.71Chile-1.12-0.98-1.480.47-1.102.00-2.21Chile-2.21152.00-0.54370.000.000.95000.0000.00-0.05-6.08South Africa181Colombia
Ivory Coast2.742.870.131.59Malaysia-1.01-0.15-1.570.170.491.36-0.70Colombia-0.320.25-1.880.45-1.50-0.30-3.29Colombia-3.29210.00-0.54352.000.001.32000.0000.00-0.08-6.41Sri Lanka460Dominican Republic
Latvia-0.23-0.000.23-0.97Finland-1.06-0.990.020.420.710.37-0.53Dominican Republic-1.000.850.44-0.14-0.61-2.00-2.47Dominican Republic-2.47294.40-0.54334.000.001.69000.0000.00-0.11-2.69Thailand128.35Ecuador
India-3.35-3.050.30-2.93UAE0.091.19-1.44-0.89-1.402.00-0.45Ecuador1.010.67-0.561.02-0.850.321.61Ecuador1.61957.00-0.54316.000.002.06000.0000.00-0.14-0.96Trinidad&Toba0Jamaica
Australia-6.02-5.710.31-5.71Bulgaria1.030.56-0.230.20-1.29-0.69-0.43Jamaica-1.02-0.940.522.00-1.05-2.00-2.49Jamaica-2.49513.00-0.54298.000.002.43000.0000.00-0.17-3.85Tunisia125Mexico
Venezuela-0.75-0.410.350.78Saudi Arabia1.021.38-1.26-1.280.94-1.19-0.40Mexico1.010.61-0.920.89-0.42-2.00-0.84Mexico-0.84199.00-0.54280.000.002.80000.0000.00-0.21.01Turkey255Panama
Slovakia-2.16-1.800.35-1.77Lithuania1.090.73-0.44-0.61-1.200.520.09Panama-0.310.37-1.850.45-0.260.87-0.71Panama-0.71199.00-0.54262.000.003.17000.0000.00-0.23-2.65Ukraine615Peru
Jamaica-2.85-2.490.36-2.49Egypt-1.30-0.730.400.98-0.841.580.10Peru-0.291.10-1.19-0.86-0.69-2.00-3.92Peru-3.92199.00-0.54244.000.003.54000.0000.00-0.26-4.01Uruguay251Uruguay
Hong Kong2.873.250.382.56France-1.18-1.32-2.001.810.852.000.16Uruguay-1.021.93-1.88-0.00-2.001.68-1.29Uruguay-1.29251.00-0.54226.000.003.91000.0000.00-0.292.33Venezuela1212Venezuela
France-0.230.160.390.16Austria0.35-0.84-1.591.14-0.321.720.47Venezuela-1.09-1.03-0.082.00-1.032.000.78Venezuela0.781212.00-0.54208.000.004.28000.0000.00-0.32-0.52Vietnam342Bahrain
UAE0.050.440.39-0.45Switzerland-0.132.00-0.57-1.28-1.482.000.54Bahrain0.080.440.78-2.001.40-2.00-1.31Bahrain-1.310.00-0.54190.000.004.65000.0000.00-0.350.14Hong Kong57.1Iran
Estonia2.422.860.431.48Kazakhstan1.070.370.112.00-1.03-1.950.57Iran-1.120.361.750.75-0.751.192.17Iran2.170.00-0.54172.000.005.02000.0000.00-0.380.61South Korea125.315Israel
Morocco-4.37-3.890.48-3.44Venezuela-1.09-1.03-0.082.00-1.032.000.78Israel0.271.18-0.620.47-0.332.002.97Israel2.970.00-0.54154.000.005.39000.0000.00-0.410.91Latviajordan
Poland-4.37-3.820.54-3.16Romania1.171.390.60-0.62-0.86-0.790.90jordan-1.01-0.85-1.79-1.21-0.120.38-4.60jordan-4.600.00-0.54136.000.005.76000.0000.00-0.44-0.75Lithuania271.65Kuwait
Eurozone4.064.650.584.65Russia-0.380.430.70-0.00-1.732.001.02Kuwait0.170.56-1.810.65-2.00-0.60-3.03Kuwait-3.030.00-0.54118.000.006.13000.0000.00-0.47-1.24Qatar87.48Lebanon
Sweden2.142.760.632.76Greece0.650.212.00-0.68-0.90-0.201.08Lebanon1.010.911.10-1.40-1.14-2.00-1.53Lebanon-1.53321.00-0.54100.000.006.50000.0000.00-0.5-1.17RomaniaOman
Chile-3.81-3.160.65-2.21Czech Republic1.022.000.54-0.12-1.23-0.931.27Oman0.100.492.00-0.422.00-1.992.18Oman2.180.00-0.5482.000.006.87000.0000.00-0.531.70Saudi Arabia71Pakistan
Mexico-2.13-1.310.82-0.84Spain0.520.14-1.862.00-0.891.501.40Pakistan0.02-0.21-1.721.440.482.002.00Pakistan2.00602.00-0.5464.000.007.24000.0000.00-0.563.42Singapore45Qatar
Belgium-3.56-2.750.82-2.75Estonia1.03-0.871.58-1.14-1.051.911.48Qatar0.221.15-2.00-1.43-1.621.68-2.00Qatar-2.0087.48-0.5446.000.007.61000.0000.00-0.591.16SlovakiaSaudi Arabia
Kazakhstan-0.270.570.840.57Ivory Coast-0.140.66-1.680.720.032.001.59Saudi Arabia1.021.38-1.26-1.280.94-1.19-0.40Saudi Arabia-0.4071.00-0.5428.000.007.98000.0000.00-0.624.61Taiwan80Turkey
Greece0.231.080.851.08Ecuador1.010.67-0.561.02-0.850.321.61Turkey-1.10-0.95-1.35-1.81-0.44-2.00-7.66Turkey-7.66255.00-0.5410.000.008.35000.0000.00-0.65-10.08EstoniaUAE
Turkey-9.06-8.180.88-7.66Norway0.300.282.001.79-1.04-1.341.99UAE0.091.19-1.44-0.89-1.402.00-0.45UAE-0.45288.00-0.54-8.000.008.72000.0000.00-0.68-3.76EurozoneAustria
Botswana-2.77-1.890.88-2.13USA1.040.50-1.18-1.280.912.001.99Austria0.35-0.84-1.591.14-0.321.720.47Austria0.4786.49-0.54-26.000.009.09000.0000.00-0.710.58czech Republic100.495Belgium
Kenya-7.54-6.650.89-6.14Pakistan0.02-0.21-1.721.440.482.002.00Belgium-1.16-1.37-1.052.00-0.57-0.60-2.75Belgium-2.75139.02-0.54-44.000.009.46000.0000.00-0.74-3.10UAE288Finland
Canada-5.14-4.230.91-4.23Iran-1.120.361.750.75-0.751.192.17Finland-1.06-0.990.020.420.710.37-0.53Finland-0.5333.35-0.54-62.000.009.83000.0000.00-0.77-1.78JordanFrance
South Africa2.253.200.952.88Oman0.100.492.00-0.422.00-1.992.18France-1.18-1.32-2.001.810.852.000.16France0.1685.18-0.54-80.000.0010.20000.0000.00-0.80.37IndiaGermany
Philippines1.652.620.962.59Croatia1.001.450.28-0.09-0.870.492.26Germany0.490.822.001.000.992.007.30Germany7.3040.72-0.54-98.000.0010.57000.0000.00-0.835.17USAGreece
Hungary2.383.661.284.69Japan-1.021.54-2.001.831.910.032.29Greece0.650.212.00-0.68-0.90-0.201.08Greece1.08834.00-0.54-116.000.0010.94000.0000.00-0.86-0.37Japan90.75Ireland
Colombia-6.92-5.641.28-3.29Algeria-0.280.91-1.460.770.552.002.48Ireland0.37-0.40-1.420.08-0.39-1.05-2.81Ireland-2.81257.41-0.54-134.000.0011.31000.0000.00-0.89-0.90BahrainItaly
Thailand-3.18-1.861.32-1.38Hong Kong-1.091.09-0.190.320.422.002.56Italy0.330.290.151.33-0.001.733.82Italy3.82191.50-0.54-152.000.0011.68000.0000.00-0.920.58UKLuxembourg
UK2.493.961.483.96Philippines1.201.41-0.08-0.35-1.582.002.59Luxembourg-1.23-1.09-2.001.28-0.82-0.35-4.20Luxembourg-4.200.00-0.54-170.000.0012.05000.0000.00-0.95-4.63KuwaitNetherlands
USA0.461.991.531.99Portugal0.54-0.172.000.33-0.710.702.69Netherlands0.601.222.002.00-0.68-0.964.19Netherlands4.1949.76-0.54-188.000.0012.42000.0000.00-0.983.08New Zealand63.585Portugal
Nigeria-1.340.261.60-2.10Sweden1.001.27-2.002.000.50-0.002.76Portugal0.54-0.172.000.33-0.710.702.69Portugal2.69316.22-0.54-187.000.0013.42000.0000.000.02-0.62Norway24.535Spain
Argentina2.994.631.644.57South Africa-1.010.30-0.370.771.291.902.88Spain0.520.14-1.862.00-0.891.501.40Spain1.40258.23-0.54-186.000.0014.42000.0000.001.022.78Sweden40.895Japan
Czech Republic0.081.941.861.27Israel0.271.18-0.620.47-0.332.002.97Japan-1.021.54-2.001.831.910.032.29Japan2.2990.75-0.54-185.000.0015.42000.0000.002.023.86AustraliaUSA
Croatia-0.421.451.872.26Taiwan0.400.76-1.590.971.162.003.69USA1.040.50-1.18-1.280.912.001.99USA1.990.00-0.54-184.000.0016.42000.0000.003.022.12CanadaAustralia
Finland-2.41-0.531.88-0.53Italy0.330.290.151.33-0.001.733.82Australia0.44-0.49-1.84-1.49-1.70-0.63-5.71Australia-5.710.00-0.54-183.000.0017.42000.0000.004.02-6.52Switzerland51New Zealand
Italy1.843.821.993.82UK-0.43-0.951.222.000.122.003.96New Zealand1.03-0.26-1.79-1.36-1.822.00-2.20New Zealand-2.2063.59-0.54-182.000.0018.42000.0000.005.02-3.93botswanaCanada
Ecuador-0.252.342.581.61Netherlands0.601.222.002.00-0.68-0.964.19Canada-1.03-0.50-1.28-2.00-0.891.47-4.23Canada-4.230.00-0.54-181.000.0019.42000.0000.006.02-5.09KenyaSweden
Norway-0.691.992.681.99Argentina0.000.670.221.000.682.004.57Sweden1.001.27-2.002.000.50-0.002.76Sweden2.7640.90-0.54-180.000.0020.42000.0000.007.023.26OmanNorway
Portugal0.012.692.682.69Eurozone0.830.20-0.832.000.462.004.65Norway0.300.282.001.79-1.04-1.341.99Norway1.9924.54-0.54-179.000.0021.42000.0000.008.02-2.66IranSwitzerland
Ukraine-4.98-2.152.83-2.80Hungary1.071.840.540.75-1.041.524.69Switzerland-0.132.00-0.57-1.28-1.482.000.54Switzerland0.5451.00-0.54-178.000.0022.42000.0000.009.020.38Isreal120.955UK
Oman0.143.233.092.18South Korea0.231.310.53-0.210.852.004.70UK-0.43-0.951.222.000.122.003.96UK3.960.00-0.54-177.000.0023.42000.0000.0010.021.29Dominican Republic294.4Eurozone
China-4.69-1.543.15-6.98Germany0.490.822.001.000.992.007.30Eurozone0.830.20-0.832.000.462.004.65Eurozone4.650.00-0.54-176.000.0024.42000.0000.0011.023.94Austria86.49
Belgium139.015
Finland33.345
France85.18
Germany40.715
Greece834
Ireland257.41
Italy191.495
Luxembourg
Netherlands49.755
Portugal316.22
Spain258.225
Factors
Growth DynamicsSovereign External LiquidityHot Money IndicatorBank External LiquidityCompetitivenessEconomic Leverage
Egypt-1.30-1.30Ukraine-1.89-1.89Vietnam-2.000.85Peru-2.00-0.86Vietnam-2.00-2.00Botswana-2.00-2.00
Luxembourg-1.23-1.23Belgium-1.37-1.37Luxembourg-2.00-2.00Turkey-2.00-1.81Kenya-2.00-2.00Brazil-2.00-2.00
Tunisia-1.20-1.20France-1.32-1.32Qatar-2.00-2.00Lebanon-2.00-1.40Uruguay-2.00-2.00Peru-2.00-2.00
France-1.18-1.18Botswana-1.25-1.25France-2.00-2.00Canada-2.00-2.00Kuwait-2.00-2.00Lebanon-2.00-2.00
Belgium-1.16-1.16Turkey-1.25-0.95Nigeria-2.00-2.00Singapore-2.00-1.94Singapore-1.97-1.97Vietnam-2.00-2.00
Turkey-1.14-1.10Luxembourg-1.09-1.09Sweden-2.00-2.00Brazil-1.970.48Nigeria-1.94-1.94Kenya-2.00-2.00
Iran-1.12-1.12Tunisia-1.04-1.04Japan-2.00-2.00Colombia-1.900.45New Zealand-1.82-1.82Dominican Republic-2.00-2.00
Chile-1.12-1.12Venezuela-1.03-1.03China-2.00-1.92Indonesia-1.89-0.47Russia-1.73-1.73Turkey-2.00-2.00
Brazil-1.12-1.09Finland-0.99-0.99Spain-2.00-1.86jordan-1.86-1.21Australia-1.70-1.70Bahrain-2.00-2.00
China-1.09-1.29Chile-0.98-0.98Taiwan-2.00-1.59Tunisia-1.71-1.17Qatar-1.62-1.62Jamaica-2.00-2.00
Hong Kong-1.09-1.09UK-0.95-0.95Brazil-2.00-2.00Poland-1.55-0.88China-1.60-1.60Indonesia-2.00-2.00
Venezuela-1.09-1.09Jamaica-0.94-0.94Uruguay-1.88-1.88Australia-1.49-1.49Philippines-1.58-1.58Mexico-2.00-2.00
Finland-1.06-1.06Estonia-0.87-0.87Colombia-1.88-1.88Kenya-1.49-0.98Slovakia-1.55-1.55Singapore-2.00-2.00
India-1.04-1.02jordan-0.85-0.85Panama-1.85-1.85Bahrain-1.44-2.00Colombia-1.50-1.50Tunisia-2.00-2.00
Morocco-1.03-1.03Austria-0.84-0.84Australia-1.84-1.84New Zealand-1.36-1.36Switzerland-1.48-1.48Oman-1.99-1.99
Canada-1.03-1.03Slovakia-0.77-0.77Kuwait-1.81-1.81Qatar-1.33-1.43UAE-1.40-1.40Kazakhstan-1.95-1.95
Uruguay-1.02-1.02Egypt-0.73-0.73Kenya-1.81-1.81Malaysia-1.310.17Bulgaria-1.29-1.29Thailand-1.66-1.66
Japan-1.02-1.02Morocco-0.62-0.62jordan-1.79-1.79Switzerland-1.28-1.28Czech Republic-1.23-1.23Poland-1.65-1.65
Jamaica-1.02-1.02Canada-0.50-0.50New Zealand-1.79-1.79USA-1.28-1.28Lithuania-1.20-1.20Ukraine-1.63-1.63
South Africa-1.02-1.01Australia-0.49-0.49Pakistan-1.72-1.72South Korea-1.23-0.21Lebanon-1.14-1.14India-1.54-1.54
jordan-1.01-1.01Latvia-0.42-0.42Ivory Coast-1.68-1.68Morocco-1.06-0.61Chile-1.10-1.10Norway-1.34-1.34
Malaysia-1.01-1.01Ireland-0.40-0.40Austria-1.59-1.59Romania-0.98-0.62Jamaica-1.05-1.05Saudi Arabia-1.19-1.19
Indonesia-1.00-1.00New Zealand-0.26-0.26Malaysia-1.57-1.57Croatia-0.90-0.09Estonia-1.05-1.05Morocco-1.18-1.18
Dominican Republic-1.00-1.00Pakistan-0.21-0.21Chile-1.48-1.48Dominican Republic-0.85-0.14Hungary-1.04-1.04Ireland-1.05-1.05
UK-0.43-0.43Portugal-0.17-0.17Algeria-1.46-1.46Israel-0.690.47Norway-1.04-1.04Netherlands-0.96-0.96
Russia-0.38-0.38India-0.15-0.06UAE-1.44-1.44Greece-0.68-0.68Kazakhstan-1.03-1.03Czech Republic-0.93-0.93
Colombia-0.32-0.32Malaysia-0.15-0.15Ireland-1.42-1.42Lithuania-0.55-0.61Venezuela-1.03-1.03Romania-0.79-0.79
Panama-0.31-0.31South Africa0.030.30Singapore-1.41-1.41Chile-0.480.47Latvia-1.02-1.02Slovakia-0.72-0.72
Peru-0.29-0.29Indonesia0.040.18Turkey-1.35-1.35Ukraine-0.33-0.98Greece-0.90-0.90Bulgaria-0.69-0.69
Algeria-0.28-0.28Spain0.140.14Canada-1.28-1.28Philippines-0.33-0.35Canada-0.89-0.89Australia-0.63-0.63
Ukraine-0.28-0.28Eurozone0.200.20Saudi Arabia-1.26-1.26Hungary-0.280.75Spain-0.89-0.89Belgium-0.60-0.60
Ivory Coast-0.14-0.14Greece0.210.21Peru-1.19-1.19Latvia-0.23-1.20Croatia-0.87-0.87Kuwait-0.60-0.60
Switzerland-0.13-0.13Colombia0.250.25USA-1.18-1.18Thailand-0.070.42Romania-0.86-0.86Luxembourg-0.35-0.35
Kenya-0.07-0.07Norway0.280.28India-1.18-1.18UAE0.00-0.89Ecuador-0.85-0.85Colombia-0.30-0.30
Latvia-0.05-0.05Italy0.290.29Belgium-1.05-1.05Ireland0.080.08Egypt-0.84-0.84Greece-0.20-0.20
Argentina0.000.00Poland0.350.35Mexico-0.92-0.92Vietnam0.19-0.34Luxembourg-0.82-0.82Sweden-0.00-0.00
Pakistan0.020.02Iran0.360.36Eurozone-0.83-0.83Estonia0.24-1.14Poland-0.80-0.80Japan0.030.03
Botswana0.020.02Singapore0.370.37Morocco-0.78-0.78Portugal0.330.33Iran-0.75-0.75Ecuador0.320.32
Thailand0.030.03Kazakhstan0.370.37Israel-0.62-0.62Panama0.390.45Portugal-0.71-0.71Finland0.370.37
Bahrain0.080.08Panama0.370.37Switzerland-0.57-0.57Mexico0.410.89Peru-0.69-0.69jordan0.380.38
UAE0.090.09Russia0.430.43Ecuador-0.56-0.56Finland0.420.42Netherlands-0.68-0.68Croatia0.490.49
Oman0.100.10Bahrain0.440.44Poland-0.45-0.45Egypt0.470.98Dominican Republic-0.61-0.61Lithuania0.520.52
Kuwait0.170.17Nigeria0.460.46Lithuania-0.44-0.44Czech Republic0.54-0.12Belgium-0.57-0.57Portugal0.700.70
Singapore0.190.19Oman0.490.49South Africa-0.37-0.37Iran0.560.75Thailand-0.54-0.54Latvia0.830.83
Qatar0.220.22USA0.500.50Thailand-0.30-0.30Algeria0.590.77Turkey-0.44-0.44Panama0.870.87
South Korea0.230.23Kuwait0.560.56Indonesia-0.25-0.25Oman0.62-0.42Mexico-0.42-0.42Nigeria1.021.02
Poland0.270.27Bulgaria0.560.56Bulgaria-0.23-0.23Bulgaria0.700.20Ireland-0.39-0.39Iran1.191.19
Israel0.270.27Mexico0.610.61Hong Kong-0.19-0.19Slovakia0.710.75Israel-0.33-0.33Malaysia1.361.36
Norway0.300.30Ivory Coast0.660.66Botswana-0.13-0.13China0.77-0.85Austria-0.32-0.32Canada1.471.47
Italy0.330.33Ecuador0.670.67Venezuela-0.08-0.08Venezuela0.822.00India-0.29-0.29Spain1.501.50
Austria0.350.35Thailand0.670.67Philippines-0.08-0.08Pakistan0.991.44Panama-0.26-0.26Hungary1.521.52
Ireland0.370.37Argentina0.670.67Tunisia-0.07-0.07Germany1.001.00Botswana-0.15-0.15Egypt1.581.58
Taiwan0.400.40China0.680.68Finland0.020.02Hong Kong1.010.32jordan-0.12-0.12Qatar1.681.68
Australia0.440.44Kenya0.710.71Slovakia0.070.07Uruguay1.03-0.00Italy-0.00-0.00Uruguay1.681.68
Slovakia0.460.46Lithuania0.730.73Kazakhstan0.110.11Argentina1.061.00Ivory Coast0.030.03China1.70-2.00
Vietnam0.490.49Taiwan0.760.76Italy0.150.15Austria1.141.14Indonesia0.110.11Austria1.721.72
Germany0.490.49Germany0.820.82Argentina0.220.22India1.161.16UK0.120.12Italy1.731.73
Spain0.520.52Dominican Republic0.850.85Croatia0.280.28Luxembourg1.281.28Brazil0.160.16South Africa1.901.90
Portugal0.540.54Lebanon0.910.91Egypt0.400.40Italy1.331.33Hong Kong0.420.42Estonia1.911.91
Netherlands0.600.60Algeria0.910.91Dominican Republic0.440.44South Africa1.360.77Eurozone0.460.46UAE2.002.00
Greece0.650.65Hong Kong1.091.09Jamaica0.520.52Botswana1.621.38Ukraine0.470.47Philippines2.002.00
Eurozone0.830.83Peru1.101.10South Korea0.530.53Nigeria1.71-0.65Pakistan0.480.48Ivory Coast2.002.00
Croatia1.001.00Qatar1.151.15Czech Republic0.540.54Ecuador1.751.02Malaysia0.490.49Taiwan2.002.00
Sweden1.001.00Vietnam1.151.15Hungary0.540.54Norway1.791.79Sweden0.500.50New Zealand2.002.00
Lebanon1.011.01Israel1.181.18Romania0.600.60Saudi Arabia1.79-1.28Algeria0.550.55UK2.002.00
Mexico1.011.01UAE1.191.19Russia0.700.70France1.811.81Argentina0.680.68South Korea2.002.00
Ecuador1.011.01Netherlands1.221.22Bahrain0.780.78Japan1.831.83Finland0.710.71France2.002.00
Nigeria1.011.01Sweden1.271.27Latvia0.890.89Russia1.94-0.00Morocco0.780.78Hong Kong2.002.00
Saudi Arabia1.021.02South Korea1.311.31Lebanon1.101.10Taiwan2.000.97France0.850.85Switzerland2.002.00
Czech Republic1.021.02Saudi Arabia1.381.38UK1.221.22Netherlands2.002.00South Korea0.850.85Algeria2.002.00
New Zealand1.031.03Romania1.391.39Ukraine1.511.51Kazakhstan2.002.00USA0.910.91Eurozone2.002.00
Bulgaria1.031.03Philippines1.411.41Estonia1.581.58Jamaica2.002.00Saudi Arabia0.940.94Germany2.002.00
Estonia1.031.03Croatia1.451.45Iran1.751.75Eurozone2.002.00Germany0.990.99Pakistan2.002.00
USA1.041.04Brazil1.491.58Oman2.002.00Ivory Coast2.000.72Taiwan1.161.16Russia2.002.00
Kazakhstan1.071.07Japan1.541.54Portugal2.002.00Belgium2.002.00South Africa1.291.29Argentina2.002.00
Hungary1.071.07Hungary1.841.84Netherlands2.002.00Spain2.002.00Bahrain1.401.40Chile2.002.00
Lithuania1.091.09Uruguay1.931.93Greece2.002.00Kuwait2.000.65Tunisia1.741.74Venezuela2.002.00
Romania1.171.17Czech Republic2.002.00Germany2.002.00Sweden2.002.00Japan1.911.91Israel2.002.00
Philippines1.201.20Switzerland2.002.00Norway2.002.00UK2.002.00Oman2.002.00USA2.002.00
Chart1
GDCharts
3.401.9-0.63.21.51.4
5.73.5-0.41.71.531.3
261.64.13.42.90.3
7.45.434.73.530.8
5.63.32.14.22.92.21.4
3.25.154.52.22.10
6.66.94.51.14.12.21.7
2.54.23.53.43.92.40.5
2.93.22.97.552.83
33.35.6410.6
5.82.9320.7
2.4-1.84.40.9
-2.3
AdjustmentScore:+1
Blind RunScore:-1
Kuwait, Singapore, Saudi Arabia,Qatar, Norway
EquilibriumScore:+2
CrisisScore:-2
Africa
Asia
Eastern Europe
Latin America
Middle East
G10
Euro Area
Real GDP Growth
C/A Balance % GDP
Global Growth Dynamics - Q1 2014
Algeria
Botswana
Egypt
Ivory Coast
Kenya
Morocco
Nigeria
South Africa
Tunisia
China
Hong Kong
India
Indonesia
South Korea
Malaysia
Philippines
Singapore
Taiwan
Thailand
Vietnam
Bulgaria
Ivory Coast
Czech Republic
Estonia
Hungary
Kazakhstan
Latvia
Lithuania
Poland
Romania
Jordan
Slovakia
Ukraine
Argentina
Brazil
Chile
Colombia
Dominican Republic
Iran
Jamaica
Mexico
Panama
Peru
Uruguay
Venezuela
Bahrain
Egypt
Ecuador
Israel
Russia
Kuwait
Nigeria
Oman
Pakistan
Qatar
Saudi Arabia
Turkey
UAE
Eurozone
Japan
USA
Australia
New Zealand
Canada
Sweden
Norway
Switzerland
UK
Africa
Asia
Eastern Europe
Latin America
Middle East
G10
Global EM
China
Hong Kong
India
Indonesia
South Korea
Malaysia
Phillipines
Singapore
Taiwan
Thailand
Vietnam
Bulgaria
Croatia
Czech Republic
Estonia
Hungary
Kazakhstan
Latvia
Lithuania
Poland
Romania
Russia
Slovakia
Ukraine
Argentina
Brazil
Chile
Colombia
Dominican Republic
Ecuador
Jamaica
Mexico
Panama
Peru
Uruguay
Venezuela
Bahrain
Iran
Israel
Jordan
Kuwait
Lebanon
Oman
Pakistan
Qatar
Saudi Arabia
Turkey
UAE
Japan
USA
Australia
New Zealand
Canada
Sweden
Norway
Switzerland
UK
Eurozone
Austria
Belgium
Finland
France
Germany
Greece
Ireland
Italy
Luxembourg
Netherland
Portugal
Spain
0.5
1.7
0.9
-0.2
3.9
1.6
2.5
8.2
2.6
0
-3.2
-0.8
-2
-0.9
-2.4
-2.2
-0.6
-4.2
2.5
-3
-0.6
-9.1
-2.8
-1.7
-3.5
-10.6
-4.2
-1.7
-9
4.4
1.9
-3.4
35.9
-3
6.4
-7.2
5.3
0.7
-1.2
-9
5.5
1.6
8.1
5.1
-2.5
-8.9
5.7
12.5
3
-5.5
19.5
-1
-1.5
-2.1
7
0.9
-7.6
11.1
-1.8
-8.5
16.8
-3.5
0
0.6
-1.3
-4.9
13
2.5
11.1
5.1
1.9
-4.8
-5.5
1.1
2.2
1.7
12
1.1
-4.4
GrowthDynamicsChart
1987198719871987198719871987
1988198819881988198819881988
1989198919891989198919891989
1990199019901990199019901990
1991199119911991199119911991
1992199219921992199219921992
1993199319931993199319931993
1994199419941994199419941994
1995199519951995199519951995
1996199619961996199619961996
1997199719971997199719971997
1998199819981998199819981998
1999199919991999199919991999
2000200020002000200020002000
2001200120012001200120012001
2002200220022002200220022002
2003200320032003200320032003
2004200420042004200420042004
2005200520052005200520052005
2006200620062006200620062006
2007200720072007200720072007
2008200820082008200820082008
2009200920092009200920092009
2010201020102010201020102010
2011201120112011201120112011
2012201220122012201220122012
2013201320132013201320132013
2014201420142014201420142014
Africa
Asia
Eastern Europe
Latin America
Middle East
Developed
Global EM
Average of Country Scores
Growth Dynamics - Average Score by Region- Q1 2014
-0.1779012687
0.0086588854
0.0356513598
0.2497729151
-0.1363819052
0.0282596462
0.0055841424
-0.059783751
0.1377655841
-0.0239928626
0.2663192477
-0.3051079018
0.0968769081
0.0035087123
-0.1873503967
-0.2603436546
-0.0903697382
-0.0293032878
-0.1919006645
-0.1621348448
-0.1470032947
0.0637199795
-0.5309310389
-0.0585522243
0.0595962894
0.162735171
-0.5788394965
-0.0589467194
-0.3632478355
-0.4458289641
-0.1093445877
0.2116367604
-0.6192379242
-0.4968468912
-0.2541411005
-0.4689447715
-0.262865356
-0.3389164793
0.0275111722
-0.3075720267
-0.3747032804
-0.2610292341
-0.6968122345
-0.3033549383
-0.2515836078
-0.3520458727
-0.5717490761
-0.0781980206
-0.4204270301
-0.4420155802
-0.0911758189
0.1661730564
-0.0459241854
-0.4427321012
0.2029612782
-0.1523631568
-0.6211866979
-0.2802963233
0.2336551688
-0.2428787261
0.024905706
0.1540647873
-0.1447736646
0.3959639541
-0.4018176854
-0.2922262667
0.0131936478
-0.1705417019
0.1143590081
-0.1147971416
0.3686677195
-0.4436960661
-0.4204671698
0.1276150999
-0.1962868417
0.4367490209
-0.137768094
-0.1979782782
-0.2014252482
-0.3993018843
-0.6631463518
-0.5623000601
0.3847864473
-0.4191888364
-0.0259051289
0.1365440863
-0.172422052
-0.3093412323
-0.4526757816
-0.0037169138
-0.1774886325
0.4361566174
0.1846064703
0.3328189984
-0.1157897297
0.5763471817
0.6575233261
0.2773581953
0.4098931296
-0.3909739003
0.098102312
-0.5608511954
-0.0085209826
0.0651606458
-0.1082247512
0.2848314572
0.0531122022
0.2366310963
-0.0736914588
0.1016993753
0.390687111
0.1150880103
0.738383891
0.5797097925
0.1546734327
0.2339910804
0.6174718241
0.1227734967
0.442992495
0.7416975581
0.8143145009
0.1490776771
0.9308027424
0.670340853
0.6518742654
0.6453415873
0.7985915205
0.4510422598
0.1993812814
0.904485109
0.6512580385
0.1921088089
0.5861344381
0.8915633549
0.721255767
-0.0205400327
0.7612937758
0.6305302335
0.2361381196
0.5682938828
0.7118957466
0.8558189835
-0.3178056576
0.6014040986
0.4362241989
0.2499566736
0.4235287115
0.1996845973
-0.1578187064
-0.2745541971
-0.1621161148
0.2215636255
-0.5757617354
-0.0490294531
-0.2864442928
0.0475254112
-0.4056301434
-0.3033196659
-0.2754146202
-0.4418740213
-0.2504074107
-0.0357254429
0.7839921374
0.323677389
-0.0027092919
0.3125773354
0.2338432679
0.2847124053
-0.4446026251
0.0381968978
0.5787367516
0.195714459
0.437819177
0.0595203854
0.2025390115
-0.5446562481
-0.1601397724
0.203167023
-0.2683496578
0.0417022665
0.0869773833
-0.1182814233
-0.3274541305
-0.3228071212
0.4107008112
-0.5086684347
0.0570666253
-0.0925330393
-0.1154048539
-0.4448245397
-0.2615407273
0.6536522897
-0.4354310684
-0.0222723996
0.2026730481
-0.067988258
SELChart
1987198719871987198719871987
1988198819881988198819881988
1989198919891989198919891989
1990199019901990199019901990
1991199119911991199119911991
1992199219921992199219921992
1993199319931993199319931993
1994199419941994199419941994
1995199519951995199519951995
1996199619961996199619961996
1997199719971997199719971997
1998199819981998199819981998
1999199919991999199919991999
2000200020002000200020002000
2001200120012001200120012001
2002200220022002200220022002
2003200320032003200320032003
2004200420042004200420042004
2005200520052005200520052005
2006200620062006200620062006
2007200720072007200720072007
2008200820082008200820082008
2009200920092009200920092009
2010201020102010201020102010
2011201120112011201120112011
2012201220122012201220122012
2013201320132013201320132013
2014201420142014201420142014
Africa
Asia
Eastern Europe
Latin America
Middle East
G10
Global EM
Average of Country Scores
Sovereign External Liquidity Measure - Average Score by Region- Q1 2014
-0.3843876497
-0.7022779389
-0.1599980444
-0.6866441624
-0.4550610992
0.0643125838
-0.4730698929
-0.5848809481
-0.8128717053
-0.2192942445
-0.6064468383
-0.62606236
-0.0794621857
-0.5587096991
-0.6413243054
-0.9920192282
-0.244828899
-1.1042912805
-0.5462626356
-0.1914347303
-0.6960272445
-0.5489921134
-1.1161967813
-0.2537143115
-0.6390386456
-0.4924659318
-0.065332597
-0.5981655192
-0.3225625237
-1.016599437
-0.1230025405
-0.4179132678
-0.9944626817
0.0549041129
-0.5725122972
-0.4034638752
-1.010645776
-0.075854575
-0.4580922415
-0.8553819409
-0.0522752501
-0.5525627733
-0.416022125
-0.966088674
0.0269152625
-0.7502864594
-0.9134388296
0.1757515054
-0.5962452561
-0.3435952284
-0.9157252485
0.4613166971
-0.3934966173
-0.6217256016
0.276369067
-0.3394891992
-0.762208227
-1.1160697755
0.4402581241
-0.3941153925
-0.5162034003
0.1659589457
-0.426966868
-0.4325336095
-1.1132984336
-0.1475274684
-0.041992027
-0.3618678399
0.2085416451
-0.4018115921
-0.2327038974
-1.1025024777
-0.3943429057
-0.201206987
-0.3250689678
0.0000896653
-0.4502391502
-0.5218063801
-0.1101213297
-0.3917478106
-0.5015062836
-0.6953024052
-0.2480531117
-0.4449476816
-0.4222058446
0.0877478488
-0.0125420637
0.0429463668
-0.2737445876
-0.3316129886
-0.1011798551
0.1637747742
-0.0129865837
0.3075593656
0.0942140862
0.264108133
-0.1604061876
0.1689343672
0.2471486569
0.1102758388
-0.0605375734
0.0791522095
0.3614100212
-0.1392911096
0.1392479027
0.2202193832
0.3138181862
0.3590436263
0.1150344127
0.5025049077
-0.0599613181
0.3072283067
0.2859770241
0.7048793993
0.2345786888
0.5051947903
0.5656005923
-0.0048255349
0.4601146343
0.478771483
0.7662331502
0.2870872597
0.5011662216
0.3399101227
0.0118456444
0.4660097984
0.7919494852
0.5944217829
-0.0853546014
0.5942658394
0.6420679097
-0.1485844024
0.4805715816
0.9617911191
0.8637160064
-0.3296879229
0.7131081393
0.808031162
-0.1310436911
0.5635916625
1.0343255499
1.0503536388
-0.7235824147
0.5540797367
0.8313436669
-0.1151341691
0.4926549022
0.5855130857
0.7604882821
-0.6989152381
0.2606551264
0.4238410771
-0.3070694358
0.223913074
0.9260583269
1.3440420642
0.2504449515
0.7783247552
0.633503107
-0.0922438429
0.7599422169
0.6549698897
1.171504522
0.3456285665
0.3294890804
0.659174053
-0.081653916
0.6164632933
0.1248078327
0.8771822189
0.1218818929
0.4405504614
0.606919484
0.0914254654
0.4373048922
-0.0934276504
0.9082037629
0.2235230796
0.4317880555
0.5589797335
0.1445220797
0.420077299
-0.1150457678
0.7411874546
0.4946761663
0.3755297378
0.5023272567
0.3276008711
0.4225039331
-0.0670768147
0.6731827288
0.3985264945
0.4236824236
0.4702886169
0.3579715692
0.3984178175
HMMChart
1987198719871987198719871987
1988198819881988198819881988
1989198919891989198919891989
1990199019901990199019901990
1991199119911991199119911991
1992199219921992199219921992
1993199319931993199319931993
1994199419941994199419941994
1995199519951995199519951995
1996199619961996199619961996
1997199719971997199719971997
1998199819981998199819981998
1999199919991999199919991999
2000200020002000200020002000
2001200120012001200120012001
2002200220022002200220022002
2003200320032003200320032003
2004200420042004200420042004
2005200520052005200520052005
2006200620062006200620062006
2007200720072007200720072007
2008200820082008200820082008
2009200920092009200920092009
2010201020102010201020102010
2011201120112011201120112011
2012201220122012201220122012
2013201320132013201320132013
2014201420142014201420142014
Africa
Asia
Eastern Europe
Latin America
Middle East
Developed
Global EM
Average of Country Scores
Hot Money Indicator - Average Score by Region- Q1 2014
-0.5536258284
-0.520835659
-0.836341698
-0.3220903354
-0.2693900202
-0.3945204706
-0.5031935271
-0.4106881021
-0.3981396532
-0.6748598111
-0.2125814908
-0.0466703076
-0.350667905
-0.3501741794
-0.4554371235
-0.3622535836
-0.5215145784
-0.0453579023
-0.0173917051
-0.2932602709
-0.2739720761
-0.5323031204
-0.3329132961
-0.3481816904
-0.1555626953
-0.1479474927
-0.2461590915
-0.2916010276
-0.2699893446
-0.2628791192
-0.1933203128
0.0124597719
-0.1153235971
-0.2381835963
-0.1591070944
-0.3166661264
-0.2773193234
-0.0122930044
-0.1427807394
-0.0611173019
-0.1618849287
-0.14924725
-0.1506142688
-0.2001707759
0.0323314741
-0.3038534868
-0.0697329842
-0.0910818886
-0.1336865867
-0.2354898088
-0.2179905518
0.2193141774
-0.3038542415
-0.1549662114
-0.090170168
-0.1258257101
0.0038250881
-0.3716514664
0.2635441835
0.0144423109
-0.2776306239
-0.0800847966
-0.0664197493
0.1952345819
-0.2812124967
0.2729707486
-0.2389019985
-0.0521026044
-0.0052980182
-0.0224502058
0.2048640357
-0.007404155
0.2641960628
-0.4816120256
-0.2777638465
0.0676547837
-0.0686952813
0.2875146541
0.293405776
0.5607798419
-0.3605412613
-0.1324249136
0.1753755321
0.1261340223
0.352669344
0.5088191344
0.8354879281
0.0613938224
-0.0435651111
0.1545698379
0.3481810908
0.4798772591
0.7796653137
0.9639856165
0.2356432784
0.2275571509
0.3190694658
0.5436040693
0.9111567261
0.9459750131
0.8982627735
0.405693653
0.4288069875
0.5051297903
0.7069747267
1.0515463205
1.2838977601
0.9388550149
0.6872444723
0.5756575372
0.5976097293
0.8938023079
1.1294901759
0.9923661799
0.8146320328
0.9379242821
0.6106436127
0.553793978
0.8816573812
0.8037368325
0.8398431192
0.582866453
1.0747922516
0.5784127337
0.5254209549
0.7699584126
0.7025131122
0.7557644616
0.3068176618
1.1146210234
0.5526646024
0.6285301488
0.6777558632
0.1769649246
0.5866919297
-0.6063839174
0.9186556638
0.6646987516
0.6175067634
0.336202765
-0.1786861104
-0.1438275167
-0.9666865105
0.3033339325
-0.2324440346
0.2523301756
-0.2615179568
0.6688625487
0.8295742998
-1.0407316862
0.3032969644
0.0406971235
0.4259872363
0.1007631118
-0.2041438082
0.1244598698
-0.9723713695
0.5759264033
-0.1251725753
0.0456711366
-0.1350880276
-0.4187590736
-0.8417214817
-0.5973521732
-0.1169656992
-0.3119783889
-0.2460316745
-0.4550995661
-0.4292902178
-0.7651520528
-0.146089775
-0.5422107034
-0.3278970531
-0.4943577517
-0.4319428894
-0.6484253082
-0.9399179282
0.1944149955
-1.0996568404
-0.2370813876
-0.4691980487
-0.5208489259
-0.7483616909
-0.9860044259
-0.0360820286
-0.9570942263
-0.4014575549
-0.7502347338
-0.602684064
-0.8784991533
-0.646498672
0.438232399
-0.8873083846
-0.5293868573
-0.8269454167
-0.461777184
BELMChart
1987198719871987198719871987
1988198819881988198819881988
1989198919891989198919891989
1990199019901990199019901990
1991199119911991199119911991
1992199219921992199219921992
1993199319931993199319931993
1994199419941994199419941994
1995199519951995199519951995
1996199619961996199619961996
1997199719971997199719971997
1998199819981998199819981998
1999199919991999199919991999
2000200020002000200020002000
2001200120012001200120012001
2002200220022002200220022002
2003200320032003200320032003
2004200420042004200420042004
2005200520052005200520052005
2006200620062006200620062006
2007200720072007200720072007
2008200820082008200820082008
2009200920092009200920092009
2010201020102010201020102010
2011201120112011201120112011
2012201220122012201220122012
2013201320132013201320132013
2014201420142014201420142014
Africa
Asia
Eastern Europe
Latin America
Middle East
Developed
Global EM
Average of Country Scores
Banking System External Liquidity - Average Score by Region- Q1 2014
-0.77948451
0.0653201601
0.2978228172
-0.4351984736
0.031391627
0.2078868304
-0.1275583222
-0.8032300498
-0.1014680747
0.3594746153
-0.489696879
0.054252514
0.1237925146
-0.1560944149
-0.7346818312
-0.1398332652
0.3563086987
-0.3579666499
0.0799755373
0.047152277
-0.1202488187
-0.6372552785
0.0562573407
0.3513475335
-0.1497437173
0.0202654842
-0.010545611
-0.0368892565
-0.5249234019
-0.2469800773
0.196276687
-0.034118829
0.0500547108
0.0082232343
-0.0824256834
-0.5429189005
-0.3432032901
0.204549273
-0.1557434317
-0.1306086575
0.065054301
-0.1655893126
-0.4452553813
-0.4897920237
0.2303679864
-0.2726179023
-0.0391386229
0.1432059264
-0.1779176346
-0.4451903959
-0.5034470309
0.3814447671
-0.3299766059
-0.0905265837
0.066637979
-0.1689804773
-0.2270263033
-0.6344456415
0.3426225844
-0.3562461141
-0.1161579705
0.1083563635
-0.1795946352
-0.2465361466
-0.9116030064
0.3813159337
-0.3328737692
-0.146162509
0.1276479996
-0.2287330981
-0.204858802
-1.0209975301
0.3830894067
-0.3399445745
-0.1741156024
0.1511247806
-0.2502326647
-0.2146987177
-0.382734003
0.3801028925
-0.3753411215
-0.268337122
0.1409562144
-0.1565818212
-0.3434838249
0.001184882
0.4339520069
-0.1578427005
-0.3892850989
0.0844948999
-0.0702189162
-0.2432758457
0.1607456172
0.4943543613
-0.1251685284
-0.174239498
0.0682939541
0.0423233256
-0.1951843314
0.3841730241
0.5487834874
-0.1148029066
-0.0451691949
-0.126278915
0.1348028842
0.0090775481
0.270789934
0.3991489713
-0.0787504793
0.0040340244
-0.2214892711
0.1289951996
0.1146791074
0.1380085788
0.1954049696
0.2241951279
-0.0568385642
-0.2273857157
0.1245394684
0.2614456015
0.0895647308
0.1115790576
0.4868710811
0.478246294
-0.3656796506
0.2871957667
0.5777104469
0.2852809516
-0.1517395477
0.5530930402
0.6002322747
-0.3559780443
0.3544697219
0.8123477548
0.6944131912
-0.4675834707
0.8193538863
1.0937155621
-0.1653055698
0.5583846168
0.8514707516
0.6143570899
-0.9853915223
0.8650609261
0.4987314146
-0.1414412258
0.3153786501
0.9770944451
0.4982143636
-1.315514895
0.4461611477
0.1004290195
-0.0703101125
0.0654666031
0.5347398007
0.7222925562
-0.9390874905
0.5046635238
0.1096724631
-0.0757229592
0.1389784349
0.4465204877
0.5970593966
-0.803192217
0.403919257
-0.2264919696
-0.00977552
0.039894147
0.7310322891
0.2985947142
-0.4924413138
0.0514324324
-0.1163438148
-0.1257389992
0.0470729612
0.507088786
0.1653846042
-0.0731409641
0.0108602091
-0.1613104744
0.1760131778
0.063627965
0.2642140832
-0.0365162363
0.0671060497
0.0156720047
-0.3380001315
0.2260730385
-0.0178826443
0.3889383289
-0.0626551184
0.1011098542
0.0205268653
-0.2796933757
0.2199470609
0.017818748
REERChart
1987198719871987198719871987
1988198819881988198819881988
1989198919891989198919891989
1990199019901990199019901990
1991199119911991199119911991
1992199219921992199219921992
1993199319931993199319931993
1994199419941994199419941994
1995199519951995199519951995
1996199619961996199619961996
1997199719971997199719971997
1998199819981998199819981998
1999199919991999199919991999
2000200020002000200020002000
2001200120012001200120012001
2002200220022002200220022002
2003200320032003200320032003
2004200420042004200420042004
2005200520052005200520052005
2006200620062006200620062006
2007200720072007200720072007
2008200820082008200820082008
2009200920092009200920092009
2010201020102010201020102010
2011201120112011201120112011
2012201220122012201220122012
2013201320132013201320132013
2014201420142014201420142014
Africa
Asia
Eastern Europe
Latin America
Middle East
Developed
Global EM
Average of Country Scores
Competitiveness - Average Score by Region- Q1 2014
-0.3308023134
-0.2536439752
1.0350045264
0.8456436217
-0.6381028261
0.2998905631
0.2616954433
-0.2044297814
-0.2149979776
1.0379141675
1.0157563037
-0.3060600424
0.0971687195
0.3583333419
-0.1129368805
-0.4125149726
1.0326332091
0.7184174346
-0.2493251843
0.2093754516
0.322283579
-0.0539631973
-0.2544873534
1.1998583649
0.7877010537
-0.026678899
-0.188115936
0.2320537312
-0.0190609859
-0.141231795
1.122654158
0.6311809153
-0.1499615347
-0.3364090418
0.1398150857
-0.1623765043
-0.2777251652
1.1614219662
0.5438263407
0.2123409252
-0.0964650038
0.1534071961
-0.2633501603
-0.2731160826
1.0798255031
0.2570521685
0.2116053841
0.2354987657
0.1936441507
-0.1386689835
-0.2928284888
0.8434663142
0.0208765849
0.4060205989
0.182417637
0.1474506583
-0.1915714289
-0.3975102395
0.5523559365
0.1185582682
0.6013358937
0.0037907514
0.0333323694
-0.1521352539
-0.6940056081
0.3191851024
-0.0563146735
0.3877771805
-0.0108874281
-0.0879018389
-0.2705047203
-0.6009108946
0.0415813661
-0.4963149181
0.0127480818
0.1394774921
-0.1249357098
-0.3419161883
0.2079891913
-0.1030626319
-0.568356434
-0.2878209236
0.2644508421
-0.079751214
0.0435040301
0.2258033316
0.2216489786
-0.2313377349
-0.0718035369
0.3546570082
0.1596025337
-0.0120842159
0.3408140946
0.1011946115
-0.3199999883
-0.2914567674
0.5528663989
0.2397005461
0.2724324278
0.4296084511
-0.106648324
-0.4968260983
-0.3368010699
0.6681635794
0.2052604228
0.5264810571
0.4499210376
-0.1688153469
-0.1571461555
-0.2361924599
0.3028039251
0.195299973
0.3636687559
0.6805439161
-0.128177649
0.5158745518
0.1825170031
-0.0566369653
0.2038227591
0.3123434082
0.8738246276
-0.2457855728
0.5343992912
0.4785361725
-0.1651279683
0.1996980317
0.3449035231
0.7225063043
-0.4561365397
0.1099093766
0.4086854753
-0.2552215597
0.0636092654
0.3355547393
0.3708665245
-0.6169613689
0.0843000226
0.3142401705
-0.1429576356
-0.0229152023
0.4475332849
0.3538377507
-0.8304104723
0.1076658408
0.2506770812
-0.1608286489
-0.0844010919
0.3359985371
0.2543689376
-1.1454846489
-0.1228291804
-0.0595317441
0.0131156328
-0.269624312
-0.0012797255
0.3100845668
-0.9538034864
-0.1928394722
-0.115305511
0.2082664575
-0.2797050865
-0.2085197324
0.0094287314
-0.9819617195
-0.5376262436
-0.2024985863
-0.2013359362
-0.3742684133
-0.104401839
-0.0840226768
-1.0329856695
-0.5039439471
-0.0273764216
-0.4661292035
-0.3917289703
-0.154843178
-0.2795719824
-1.0131692852
-0.9473095003
-0.0140555018
-0.4849843934
-0.4199997692
-0.0478119215
-0.3870175088
-1.0407514418
-0.9733907079
-0.1406957838
-0.4847973682
-0.4504456616
-0.0591309398
-0.4495187007
-1.0143829212
-0.7226582641
-0.2490101883
-0.3016253804
-0.4567734285
Credit Cycle
1987198719871987198719871987
1988198819881988198819881988
1989198919891989198919891989
1990199019901990199019901990
1991199119911991199119911991
1992199219921992199219921992
1993199319931993199319931993
1994199419941994199419941994
1995199519951995199519951995
1996199619961996199619961996
1997199719971997199719971997
1998199819981998199819981998
1999199919991999199919991999
2000200020002000200020002000
2001200120012001200120012001
2002200220022002200220022002
2003200320032003200320032003
2004200420042004200420042004
2005200520052005200520052005
2006200620062006200620062006
2007200720072007200720072007
2008200820082008200820082008
2009200920092009200920092009
2010201020102010201020102010
2011201120112011201120112011
2012201220122012201220122012
2013201320132013201320132013
2014201420142014201420142014
Africa
Asia
Eastern Europe
Latin America
Middle East
Developed
Global EM
Average of Country Scores
Credit Cycle - Average Score by Region- Q1 2014
-0.0868063349
0.4537756614
-0.6620055899
0.0727497077
-0.4449841382
-0.2662063704
-0.155484396
0.0585839368
0.3771176404
-0.5721734567
0.1225435108
-0.4010327796
-0.2056897484
-0.1070978366
-0.0358447652
0.2834837044
-0.4886154277
0.1352662758
-0.3289097298
-0.2590026763
-0.1031579675
0.0897138735
0.1782004132
-0.4107127392
0.205064412
0.0021141662
-0.2845531298
-0.0014998818
0.0558590566
0.1796127853
-0.3054061778
0.2301526008
0.0875041482
-0.1029803262
0.040703032
0.0846335636
0.1840397216
-0.1993432534
0.182977488
0.0752764733
0.0423679446
0.057784636
0.1033799854
0.090416779
-0.0838231036
0.1366042676
0.0898650893
0.1586163823
0.0623322171
0.2917503029
-0.0323928804
0.054610055
-0.0708065933
0.1063287524
0.185429824
0.0597478538
0.1713572942
-0.2854285416
0.2173329351
-0.1809905853
0.0530849365
0.3191419583
-0.0053866305
0.2692036195
-0.6268317237
0.3481020452
-0.1042240442
0.1115112879
0.3802093371
0.0024641601
0.1319165216
-0.8301966512
0.3945693986
-0.3053191671
0.0818687164
0.2543949623
-0.0964371526
0.0474661588
-0.5427024801
0.4410408303
-0.3476993096
0.0023829249
0.2708293934
-0.0693473276
0.0164335164
0.0266449644
0.5999808466
-0.1641082863
0.194669896
0.2612988001
0.1510085365
-0.3181604656
-0.0612065379
0.7896924943
-0.2357487549
0.3294254195
0.0867949021
0.1377790578
-0.2998035979
-0.0056705768
1.0360652684
-0.0721916586
0.4418908806
0.2764587414
0.2656952707
0.1077055321
-0.1198360064
1.1604049355
-0.0378918402
0.561180969
0.4462093399
0.3686997794
0.0326656108
-0.1834220603
1.0712033363
0.063478658
0.7705955863
0.4408305454
0.3896645989
-0.182235933
-0.201672416
0.9497852885
0.2978275257
0.5938834811
0.2203698657
0.3366529975
0.0653531559
-0.0799278246
0.7426772703
0.3876467851
0.4165729363
-0.0047889559
0.3335862018
0.3102093884
0.2305088056
0.2647528914
0.4276662462
-0.0152593008
-0.3043821462
0.2406693384
0.4502238723
0.2113630219
-0.3896243792
0.2106130725
-0.3352617485
-0.7368393948
-0.0032261921
0.0133654625
0.1916475991
-1.0414031072
0.2067798556
-1.289824876
-1.0774647682
-0.4264275068
0.2024248791
0.7603172625
-1.1409007779
0.5140289446
-0.4299864257
-0.7328319311
-0.0638225629
0.1607216945
0.4790938187
-0.9948733726
0.3408673359
-0.2936848418
-0.4944209887
-0.0991339764
0.4301323261
0.3557479472
-0.6672553322
0.043503309
-0.276214231
0.103948655
-0.0646040707
0.1294104175
0.0572394657
-0.253333513
-0.3736903349
-0.2467160243
0.6315298729
-0.1569102474
0.1481511088
-0.1669539412
-0.0842610747
-0.1187967941
-0.043804535
0.9526277514
-0.0622761981
0.1481511088
-0.1669539412
-0.0842610747
-0.1187967941
-0.043804535
0.9526277514
-0.0622761981
OveralScore Chart
1987198719871987198719871987
1988198819881988198819881988
1989198919891989198919891989
1990199019901990199019901990
1991199119911991199119911991
1992199219921992199219921992
1993199319931993199319931993
1994199419941994199419941994
1995199519951995199519951995
1996199619961996199619961996
1997199719971997199719971997
1998199819981998199819981998
1999199919991999199919991999
2000200020002000200020002000
2001200120012001200120012001
2002200220022002200220022002
2003200320032003200320032003
2004200420042004200420042004
2005200520052005200520052005
2006200620062006200620062006
2007200720072007200720072007
2008200820082008200820082008
2009200920092009200920092009
2010201020102010201020102010
2011201120112011201120112011
2012201220122012201220122012
2013201320132013201320132013
2014201420142014201420142014
Africa
Asia
Eastern Europe
Latin America
Middle East
Developed
Global EM
Overall Risk Score - Average Score by Region- Q1 2014
-2.3130079053
-0.9490028662
-0.2898666289
-0.275766727
-1.9125283619
-0.0603772175
-0.9920265525
-2.0044286956
-1.0125941863
-0.0929315921
0.0958938541
-1.6306808776
-0.3179816969
-0.810234076
-2.1675753024
-1.8834809998
0.0436132645
-0.6832354102
-1.2538143819
-0.6493047939
-1.0181258225
-1.6190798567
-2.0000707158
0.4800449328
0.1080166968
-0.4819775021
-1.3735458618
-0.7550486733
-1.4439250351
-1.9339066073
0.5878572263
0.6333979516
-1.7414268787
-1.1112925084
-0.8876680578
-1.8097366143
-1.9877191891
0.7395639271
-0.0023014118
-1.0670625286
-0.5779062174
-0.9172367378
-1.8686741844
-2.1421057156
1.0340335147
-1.2851472852
-1.2925890394
0.5437926706
-1.0723001398
-1.3132096939
-2.0535600195
2.1263250671
-1.1231816585
-0.7976011466
0.8236456173
-0.5794600314
-1.6268102748
-3.0854019878
2.0497689325
-1.0412302389
-0.2306654584
0.6712280096
-0.7898091781
0.0291971455
-4.0287689539
0.8818200948
-0.7611128645
-0.2313861868
0.8145725437
-0.8532297162
-0.0026191429
-4.0057077746
0.2686261587
-1.6967825724
-0.8786184603
1.0494907051
-1.1283080526
-0.9414187514
-0.7355880935
0.487811238
-2.8165907616
-1.9438024997
0.9883453176
-1.0436828585
-0.3789879079
0.9867442475
1.9061056445
-0.7582897648
-1.0364042199
0.5196906437
0.3099047571
0.5062881234
1.3916383743
2.9896054475
-0.4668496366
0.9317416198
1.5241418594
1.4096995612
1.3456430112
1.47338785
2.4140279438
-0.7598259963
0.8416166421
1.2493427323
1.3437564559
2.1998612982
2.2517031137
2.9252682974
0.4547989512
1.5088843538
1.455859516
2.009113577
2.6648645651
2.9120858063
2.3423148112
2.4806584904
2.6899900542
0.8285498041
2.5027913369
2.4157589502
3.1821077127
1.8346101631
3.8258591136
3.1393296571
0.8787031114
2.7048565943
3.2810212439
2.7290879356
0.5556455248
3.6640211738
3.271481237
0.0560659953
2.496127072
3.4884312811
3.4674522244
-1.7764038212
3.724377734
3.4959565789
0.1099558403
2.2442270632
3.3167630948
2.9419029681
-4.2135009566
2.6421576071
1.4492705785
-0.6519565894
0.882417023
2.7805186763
2.3764747758
-5.5166037725
0.931947799
-0.5628257746
-1.5915031828
-0.3549384829
1.1713551801
3.3087217306
-4.1613483162
1.8767844889
-0.202703562
-1.0887351603
0.1698975641
0.5992078231
2.1993571245
-2.7080735268
0.4169744387
-0.0629023981
-0.7993747676
0.0125678897
0.307677766
0.7205470486
-1.638153446
-0.3149539888
0.2969071404
-0.8313314486
-0.2013590655
-0.8048531812
-0.2488018502
-0.7185386641
-2.2463580689
-0.0584813881
0.0848600716
-0.7323351018
-0.8263083187
-1.1581117788
-0.1886115179
-2.1667484206
-0.3645641233
0.1787365197
-0.826189489
-0.9124420098
-0.9139844307
0.4928770415
-1.7199852223
-0.6538787391
0.6046486325
-0.6325785031
ScorebyFActors
TurkeyTurkeyTurkeyTurkeyTurkeyTurkeyTurkey
ChinaChinaChinaChinaChinaChinaChina
SingaporeSingaporeSingaporeSingaporeSingaporeSingaporeSingapore
KenyaKenyaKenyaKenyaKenyaKenyaKenya
AustraliaAustraliaAustraliaAustraliaAustraliaAustraliaAustralia
jordanjordanjordanjordanjordanjordanjordan
CanadaCanadaCanadaCanadaCanadaCanadaCanada
LuxembourgLuxembourgLuxembourgLuxembourgLuxembourgLuxembourgLuxembourg
PeruPeruPeruPeruPeruPeruPeru
TunisiaTunisiaTunisiaTunisiaTunisiaTunisiaTunisia
MoroccoMoroccoMoroccoMoroccoMoroccoMoroccoMorocco
IndonesiaIndonesiaIndonesiaIndonesiaIndonesiaIndonesiaIndonesia
ColombiaColombiaColombiaColombiaColombiaColombiaColombia
PolandPolandPolandPolandPolandPolandPoland
KuwaitKuwaitKuwaitKuwaitKuwaitKuwaitKuwait
IndiaIndiaIndiaIndiaIndiaIndiaIndia
BrazilBrazilBrazilBrazilBrazilBrazilBrazil
IrelandIrelandIrelandIrelandIrelandIrelandIreland
UkraineUkraineUkraineUkraineUkraineUkraineUkraine
BelgiumBelgiumBelgiumBelgiumBelgiumBelgiumBelgium
JamaicaJamaicaJamaicaJamaicaJamaicaJamaicaJamaica
Dominican RepublicDominican RepublicDominican RepublicDominican RepublicDominican RepublicDominican RepublicDominican Republic
ChileChileChileChileChileChileChile
New ZealandNew ZealandNew ZealandNew ZealandNew ZealandNew ZealandNew Zealand
BotswanaBotswanaBotswanaBotswanaBotswanaBotswanaBotswana
NigeriaNigeriaNigeriaNigeriaNigeriaNigeriaNigeria
QatarQatarQatarQatarQatarQatarQatar
VietnamVietnamVietnamVietnamVietnamVietnamVietnam
SlovakiaSlovakiaSlovakiaSlovakiaSlovakiaSlovakiaSlovakia
LebanonLebanonLebanonLebanonLebanonLebanonLebanon
ThailandThailandThailandThailandThailandThailandThailand
BahrainBahrainBahrainBahrainBahrainBahrainBahrain
UruguayUruguayUruguayUruguayUruguayUruguayUruguay
LatviaLatviaLatviaLatviaLatviaLatviaLatvia
MexicoMexicoMexicoMexicoMexicoMexicoMexico
PanamaPanamaPanamaPanamaPanamaPanamaPanama
MalaysiaMalaysiaMalaysiaMalaysiaMalaysiaMalaysiaMalaysia
FinlandFinlandFinlandFinlandFinlandFinlandFinland
UAEUAEUAEUAEUAEUAEUAE
BulgariaBulgariaBulgariaBulgariaBulgariaBulgariaBulgaria
Saudi ArabiaSaudi ArabiaSaudi Ara