Country Ratings: Africa

World Economy

Up-to-the-minute, worldwide country risk analyses are produced by the internal Country Risk Unit of the Euler Hermes Group. These country specialists monitor political and economic developments across the globe on an ongoing basis. You can read their reports here at any time and with up-to-date assessments.

Here you can find up-to-the-minute information on countries in Africa. You can download PDF files on the countries concerned.

N.B.: The country rating is an evaluation of the risk of payment default for short-term business in a specific country due to political and/or economic factors.
Country ratings are subject to modification. The ratings always refer to the date given in connection with the country concerned.

Algeria

as per 7/2010

Euler Hermes Rating: C

Deep structural weaknesses and/or strong policy measures required and/or external liquidity risk is high, serious weaknesses in business environment and/or serious weaknesses in political framework with higher risk of political instability and little capacity to respond to economic crisis.

Angola

as per 1/2010

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Ascension (UK)

as per 4/2009

Euler Hermes Rating: A

Economic structure and policy framework generally adequate. Very low risk of external liquidity crisis. Generally sound business environment. Negligible risk of political instability. Good capacity to respond to economic crisis.

Benin

as per 4/2009

Euler Hermes Rating: C

Deep structural weaknesses and/or strong policy measures required and/or external liquidity risk is high, serious weaknesses in business environment and/or serious weaknesses in political framework with higher risk of political instability and little capacity to respond to economic crisis.

Botswana

as per 2/2010

Euler Hermes Rating: B

A range of structural and policy weaknesses and/or vulnerable external liquidity position, some weaknesses in business environment and/or serious weaknesses in political framework with higher risk of political instability and limited capacity to respond to economic crisis.

Bouvet Island (N)

as per 4/2009

Euler Hermes Rating: A

Economic structure and policy framework generally adequate. Very low risk of external liquidity crisis. Generally sound business environment. Negligible risk of political instability. Good capacity to respond to economic crisis.

Burkina Faso

as per 4/2009

Euler Hermes Rating: C

Deep structural weaknesses and/or strong policy measures required and/or external liquidity risk is high, serious weaknesses in business environment and/or serious weaknesses in political framework with higher risk of political instability and little capacity to respond to economic crisis.

Burundi

as per 3/2010

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Cameroon

as per 8/2009

Euler Hermes Rating: C

Deep structural weaknesses and/or strong policy measures required and/or external liquidity risk is high, serious weaknesses in business environment and/or serious weaknesses in political framework with higher risk of political instability and little capacity to respond to economic crisis.

Cap Verde

as per 4/2009

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Central African Republic

as per 4/2009

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Chad

as per 4/2010

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Comoros

as per 4/2009

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Congo, Democratic Republic

as per 3/2010

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Congo, Republic

as per 10/2009

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Cote d'Ivoire

as per 2/2010

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Djibouti

as per 3/2010

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Egypt

as per 6/2010

Euler Hermes Rating: C

Deep structural weaknesses and/or strong policy measures required and/or external liquidity risk is high, serious weaknesses in business environment and/or serious weaknesses in political framework with higher risk of political instability and little capacity to respond to economic crisis.

Equatorial Guinea

as per 5/2010

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Eritrea

as per 8/2009

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Ethiopia

as per 5/2010

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Gabon

as per 3/2010

Euler Hermes Rating: C

Deep structural weaknesses and/or strong policy measures required and/or external liquidity risk is high, serious weaknesses in business environment and/or serious weaknesses in political framework with higher risk of political instability and little capacity to respond to economic crisis.

Gambia

as per 4/2009

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Ghana

as per 10/2009

Euler Hermes Rating: C

Deep structural weaknesses and/or strong policy measures required and/or external liquidity risk is high, serious weaknesses in business environment and/or serious weaknesses in political framework with higher risk of political instability and little capacity to respond to economic crisis.

Guinea

as per 2/2010

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Guinea-Bissau

as per 4/2010

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Kenya

as per 2/2010

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Lesotho

as per 11/2009

Euler Hermes Rating: C

Deep structural weaknesses and/or strong policy measures required and/or external liquidity risk is high, serious weaknesses in business environment and/or serious weaknesses in political framework with higher risk of political instability and little capacity to respond to economic crisis.

Liberia

as per 9/2009

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Libya

as per 6/2009

Euler Hermes Rating: C

Deep structural weaknesses and/or strong policy measures required and/or external liquidity risk is high, serious weaknesses in business environment and/or serious weaknesses in political framework with higher risk of political instability and little capacity to respond to economic crisis.

Madagascar

as per 6/2010

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Malawi

as per 12/2009

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Mali

as per 4/2009

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Mauritania

as per 7/2009

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Mauritius

as per 5/2010

Euler Hermes Rating: BB

Some signs of structural and policy weaknesses. External liquidity adequate, some weaknesses in business environment and/or significant, though moderate, risk of political instability and adequate capacity to respond to economic crisis.

Mayotte (F)

as per 4/2009

Euler Hermes Rating: A

Economic structure and policy framework generally adequate. Very low risk of external liquidity crisis. Generally sound business environment. Negligible risk of political instability. Good capacity to respond to economic crisis.

Morocco

as per 6/2010

Euler Hermes Rating: B

A range of structural and policy weaknesses and/or vulnerable external liquidity position, some weaknesses in business environment and/or serious weaknesses in political framework with higher risk of political instability and limited capacity to respond to economic crisis.

Mozambique

as per 11/2009

Euler Hermes Rating: C

Deep structural weaknesses and/or strong policy measures required and/or external liquidity risk is high, serious weaknesses in business environment and/or serious weaknesses in political framework with higher risk of political instability and little capacity to respond to economic crisis.

Namibia

as per 12/2009

Euler Hermes Rating: B

A range of structural and policy weaknesses and/or vulnerable external liquidity position, some weaknesses in business environment and/or serious weaknesses in political framework with higher risk of political instability and limited capacity to respond to economic crisis.

Niger

as per 4/2010

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Nigeria

as per 5/2010

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Reunion (F)

as per 4/2009

Euler Hermes Rating: AA

Strong economic structure and policy framework (industrialised economy or similar). Negligible risk of external liquidity crisis. Generally sound business environment. Negligible risk of political instability. Strong capacity to respond to economic crisis.

Rwanda

as per 9/2009

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Sao Tomé and Príncipe

as per 4/2009

Euler Hermes Rating: C

Deep structural weaknesses and/or strong policy measures required and/or external liquidity risk is high, serious weaknesses in business environment and/or serious weaknesses in political framework with higher risk of political instability and little capacity to respond to economic crisis.

Senegal

as per 2/2010

Euler Hermes Rating: C

Deep structural weaknesses and/or strong policy measures required and/or external liquidity risk is high, serious weaknesses in business environment and/or serious weaknesses in political framework with higher risk of political instability and little capacity to respond to economic crisis.

Seychelles

as per 6/2010

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Sierra Leone

as per 9/2009

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Somalia

as per 4/2009

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

South Africa

as per 7/2010

Euler Hermes Rating: BB

Some signs of structural and policy weaknesses. External liquidity adequate, some weaknesses in business environment and/or significant, though moderate, risk of political instability and adequate capacity to respond to economic crisis.

St. Helena (UK)

as per 4/2009

Euler Hermes Rating: A

Economic structure and policy framework generally adequate. Very low risk of external liquidity crisis. Generally sound business environment. Negligible risk of political instability. Good capacity to respond to economic crisis.

Sudan

as per 4/2010

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Swaziland

as per 4/2009

Euler Hermes Rating: C

Deep structural weaknesses and/or strong policy measures required and/or external liquidity risk is high, serious weaknesses in business environment and/or serious weaknesses in political framework with higher risk of political instability and little capacity to respond to economic crisis.

Tanzania

as per 3/2010

Euler Hermes Rating: C

Deep structural weaknesses and/or strong policy measures required and/or external liquidity risk is high, serious weaknesses in business environment and/or serious weaknesses in political framework with higher risk of political instability and little capacity to respond to economic crisis.

Togo

as per 3/2010

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Tunisia

as per 7/2010

Euler Hermes Rating: BB

Some signs of structural and policy weaknesses. External liquidity adequate, some weaknesses in business environment and/or significant, though moderate, risk of political instability and adequate capacity to respond to economic crisis.

Uganda

as per 11/2009

Euler Hermes Rating: C

Deep structural weaknesses and/or strong policy measures required and/or external liquidity risk is high, serious weaknesses in business environment and/or serious weaknesses in political framework with higher risk of political instability and little capacity to respond to economic crisis.

Western Sahara

as per 4/2009

Euler Hermes Rating: B

Economic structure and policy framework generally adequate. Very low risk of external liquidity crisis. Generally sound business environment. Negligible risk of political instability. Good capacity to respond to economic crisis.

Zambia

as per 10/2009

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.

Zimbabwe

as per 2/2010

Euler Hermes Rating: D

Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.