Dr. Benn Steil, Senior Fellow and Director of International Economics at the Council on Foreign Relations, emails:
The CFR Sovereign Risk Tracker is updated.
Lebanon has entered default, making it the second country on the Tracker in default (along with Venezuela). Serial-defaulter Argentina has jumped from an Index rating of 7 (out of 10) in 2019 to 10 today, which implies a greater than 50% chance of default. Tunisia’s Tracker Index score has jumped the most since 2019, from 4 to 8, the main cause being its poor economic performance during the pandemic.
Sincerely,
Benn
-RW
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