The Country Risk Atlas 2024 by Allianz provides insights on factors influencing non-payment risk in 84 economies, country by country. This is a comprehensive resource that provides detailed insights into the economic, political, business environment, and sustainability factors influencing non-payment risk for companies in 84 economies. It utilizes a proprietary risk ratings model that is updated quarterly with the latest economic developments and proprietary data from Allianz Trade on global insolvencies and the business environment. The purpose is to aid businesses and investors in making informed decisions by identifying potential risks and opportunities globally.
Countries that were upgraded in 2023 include, among others:
- China – Notable for showcasing resilience to global shocks.
- South Africa – Demonstrated resilience in the face of global challenges.
- Qatar – Showed strong resilience to global economic disruptions.
- Uruguay – Improved risk trajectory in the Americas, showcasing resilience.
- Croatia – Improved outlook with a double upgrade in Q1 and Q4.
Downgraded countries include:
- Egypt – due to a gloomier outlook for available liquidity.
- Israel – because of increased political risk.
- Liquidity constraints due to high public and private debt and high interest rates.
- Below-potential growth in most regions and lower pricing power for corporates.
- Increasing business insolvencies (+8% globally in 2024), with Europe and the US leading the rise.
- Changing global supply chains impacting economies with twin deficits.
- Increasingly polarized geopolitics and uncertainty due to a year packed with elections, affecting economies accounting for 60% of global GDP.
The Allianz Group is one of the leading integrated financial services providers worldwide.
