"Investment guarantee"The UAE ranks first in the Arab world in the Fitch Composite Country Risk Index during 2023
KUWAIT, April 7, 2017 (WAM) – The UAE ranked first in the Arab world on the Fitch Composite Risk Index during 2023, according to the Arab Corporation for Investment and Export Credit Guarantee (Daman).
In a statement issued today, “Daman” indicated the stability of the sovereign ratings of 4 Arab countries, with the improvement of the ratings of the UAE, Saudi Arabia, the Sultanate of Oman, and Qatar, in addition to a change in the future vision of 6 countries, according to the 4 most important international rating agencies.
The Foundation said that the UAE and the rest of the Gulf countries, then Morocco, Jordan and Egypt occupied the top of the Arab rankings in most assessments related to risk indicators of all kinds.
The Arab Corporation for Investment and Export Credit Guarantee revealed a decline in sovereign ratings and political, economic, financial and operational risk ratings for the majority of Arab countries during the year 2023, according to 30 indicators issued by 15 of the most important credit rating and risk assessment agencies in the world.
Abdullah Ahmed Al-Subaih, Director General of the Arab Corporation for Investment and Export Credit Guarantee, said in the opening of the first quarterly bulletin “Investment Guarantee” for the year 2024 that this discrepancy was a reflection of the escalation witnessed in 2023 in the pace of political events in the region, coinciding with the slowdown in the growth rate due to the decline in oil production and its revenues. The crises of high cost of living and debt escalated.
Al-Subaih stressed the institution’s readiness to play its role in submitting specialized and comprehensive reports on the situation of each Arab country, while emphasizing the importance of communicating with the research teams responsible for issuing sovereign assessment indicators and assessing political, economic, financial and operational risks to contribute to improving the classification of countries in the region and including Arab countries that are currently excluded within those classifications. .
Al-Subaih said that the institution, based on its awareness of the great importance of sovereign evaluation indicators and risk indicators in determining the Arab countries’ share of the interest of multinational companies and financial, investment and trade institutions in the region and the world, continues to monitor about 30 sovereign evaluation indicators and assess political, economic, financial and operational risks issued by 15 agencies. A specialized international organization compared it to the previous year, where a number of conclusions were reached, including “a decline in the average global ranking of Arab countries in the Fitch and PRS indices to measure countries’ political, economic and financial risks in the short, medium and long terms.”
The institution pointed out the decline in the position of Arab countries in the country risk indicators related to export operations and direct investments issued by the Credendo Agency, and in the trade risk index issued by the Japanese Nexi Agency.
The institution said that the average global ranking of Arab countries witnessed an improvement in country risk indicators issued by Allianz Trade, Waterradius and Coface agencies.
The ranking of most Arab countries has also stabilized in the various risk assessment indicators issued by Dun & Brad Street and the Organization for Economic Co-operation and Development, in addition to the stability of preferred payment terms for dealing with Arab countries in commercial transactions.
The average ranking of Arab countries in the Global Peace Index also improved, with the situation improving in 10 countries, led by the Sultanate of Oman, while the ranking of 7 countries declined.
Economic risks ranked first among the risks expected to threaten Arab countries during the next two years, according to the World Economic Forum, topped by crises of economic contraction, inflation, and public debt.
- For more: DC & People website and for social networking, you can follow us on Facebook
- Source of information and images “poosh“
