On the basis of credit ratings provided by Moody’s Investors Service, 24/7 Wall St identified 11 countries, credit ratings – Caa1 or lower. This level indicates a significant credit risk. Since most of these countries have substantial foreign debt or currency – low, ratings and forecasts for the convenience denominated in foreign currencies. GDP growth, inflation, unemployment, population growth and debt levels were taken from the “World Economic Outlook,” the IMF for 2013.
11 countries are on the verge of default:
Ecuador
> Credit rating: Caa1
> Outlook: Stable
> National debt for 2014 (% of GDP): 24.8%
> GDP per capita in 2014 (PPP): $ 10,492
Egypt
> Credit rating: Caa1
> Outlook: Negative
> National debt for 2014 (% of GDP): 91.3%
> GDP per capita in 2014 (PPP): $ 6,696
Pakistan
> Credit rating: Caa1
> Outlook: Stable
> National debt for 2014 (% of GDP): 63.7%
> GDP per capita in 2014 (PPP): $ 3,231
Venezuela
> Credit rating: Caa1
> Outlook: Negative
> National debt for 2014 (% of GDP): 51.6%
> GDP per capita in 2014 (PPP): $ 13,531
Argentina
> Credit rating: Caa1
> Outlook: Stable
> National debt for 2014 (% of GDP): 52.9%
> GDP per capita in 2014 (PPP): $ 18,917
Belize
> Credit rating: Caa2
> Outlook: Stable
> National debt for 2014 (% of GDP): 80.4%
> GDP per capita in 2014 (PPP): $ 8,915
Cuba
> Credit rating: Caa2
> Outlook: Stable
> National debt for 2014 (% of GDP): unknown
> GDP per capita in 2014 (PPP): unknown
Cyprus
> Credit rating: Caa3
> Forecast: Positive
> National debt for 2014 (% of GDP): 121.5%
> GDP per capita in 2014 (PPP): $ 24,171
Greece
> Credit rating: Caa3
> Outlook: Stable
> National debt for 2014 (% of GDP): 174.7%
> GDP per capita in 2014 (PPP): $ 24,574
Jamaica
> Credit rating: Caa3
> Forecast: Positive
> National debt for 2014 (% of GDP): 133.7%
> GDP per capita in 2014 (PPP): $ 9,256
Ukraine
> Credit rating: Caa3
> Outlook: Negative
> National debt for 2014 (% of GDP): unknown
> GDP per capita in 2014 (PPP): unknown
Argentina is bankrupt: who's next - Ukraine?
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