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Romania 16th among countries with risky debts

Costs for ensuring the Romanian state’s debts against default risk dropped in the first quarter of the year by a position among countries with the highest risk, to position 16, according to a report of made by CMA a company monitoring the financial market.

Romania's credit default swaps of state bonds to mature in 5 years dropped from 2.901% at the end of 2010 to 2.311% at the end of March. The insurance of a ten million dollar debt for Romania thus dropped from 290,200 dollars to 231,100 dollars.

CDS determines the profitability required by foreign investors for the purchase of sovereign bonds. Moreover, CDS influence the cost of foreign financing for companies and banks.At the same time, cumulative probability of default in Romania's case dropped from 18.7% at the end of 2010 to 15.3% in March, the report shows. At the end of the first quarter of 2010, Romania ranked 15th, with a probability of default of 13.3% and a CDS of 2%.

The riskiest state is Greece with a CDS of 10.37% four times higher than Romania's and a probability of default of 57.7%. The next positions according to the risk were held by Venezuela, Ireland, Portugal, Argentina, Ukraine, Dubai, Lebanon, Iraq and Egypt.

Norway maintained the position of the safest state as concerns the risk of payment incapacity, with a CDS of 0.174% and a probability of default of 1.6%. The top ten of the safest states is completed by Sweden, Finland, Switzerland, Denmark, Holland, Hong Kong, USA, Germany and Chile.

In Central and Eastern Europe, Greece and Ukraine are considered the most risky, followed by Hungary (14th), Croatia (15th), Romania, Latvia (17th), Lithuania (18th), Bulgaria (20th), Turkey (25th), Poland (28th), Russia (34th), Slovenia (43rd), Slovakia (44th), Estonia (49th), Czech Republic (51st) and Austria (52nd).

Sursa: http://www.actmedia.eu

Tags: default romania

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