COUNTRY RISK CLASSIFICATION

Valid from January 1, 2021 to December 31, 2021

HIGH-RISK COUNTRIES BY RANKING

South Sudan 1 Nicaragua 17 Mauritania 26

Somalia 2 Nigeria 17 Papua New 26
Guinea
Syrian Arab Republic 2 Myanmar 18 Swaziland 28
Yemen, Rep. 2 Comoros 19 Azerbaijan 28
Libya 3 Guinea 19 Sierra Leone 29
Venezuela, RB 5 Angola 20 Uganda 30
Congo, Dem. Rep. 6 Uzbekistan 20 Tanzania 30
Eritrea 6 Algeria 21 Russian 31
Federation
Sudan 7 Bangladesh 21 West Bank and 31
Gaza
Central African 7 Lebanon 21 Kenya 31
Republic
Burundi 8 Pakistan 21 Ukraine 32
Chad 8 Djibouti 22 Malawi 32
Afghanistan 8 Mali 22 Côte d'Ivoire 32
Korea, Dem. Rep. 9 Mozambique 22 Burkina Faso 33
Iraq 9 Gabon 23 Zambia 34
Congo, Rep. 11 Bolivia 23 Timor-Leste 34
Equatorial Guinea 11 Liberia 24 Ecuador 35
Zimbabwe 11 Togo 24 Belarus 37
Turkmenistan 12 Madagascar 24 Mexico 37
Tajikistan 12 Egypt, Arab Rep. 24 Kosovo 37
Haiti 14 Lao PDR 24 Bosnia and 37
Herzegovina
Cameroon 14 Ethiopia 25 Benin 38
Guinea-Bissau 14 Cambodia 25 Lesotho 38
Iran, Islamic Rep. 16 Niger 25

Code Ref: GRASP 2021 Country Risk Classification (WGI)

Publication date: December 2020
Page: 1 of 7
 COUNTRY RISK CLASSIFICATION
Valid from January 1, 2021 to December 31, 2021

Moldova 40 Marshall Islands 48

Philippines 40 Bahrain 48
El Salvador 40 Peru 48
Belize 40 Serbia 49
Maldives 41 Albania 49
China 41 Jordan 49
Vietnam 41
Guyana 42
Morocco 42
São Tomé and 43
Principe
Kazakhstan 43
Dominican Republic 43
Suriname 44
Brazil 44
Tunisia 44
Solomon Islands 45
Indonesia 45
Saudi Arabia 46
Thailand 46
Sri Lanka 46
Colombia 47
Argentina 47
India 48
Armenia 48

Code Ref: GRASP 2021 Country Risk Classification (WGI)

Publication date: December 2020
Page: 2 of 7
 COUNTRY RISK CLASSIFICATION
Valid from January 1, 2021 to December 31, 2021

MEDIUM-RISK COUNTRIES BY RANKING

North Macedonia 50 Puerto Rico 61 St. Vincent and the 71

Grenadines
Nauru 51 Bulgaria 61 Botswana 71
Kuwait 51 Tuvalu 62 Brunei Darussalam 71
Mongolia 51 Georgia 63 Poland 71
Senegal 52 Malaysia 64 Costa Rica 71
Ghana 53 Qatar 65 Cyprus 76

Rwanda 53 Seychelles 65 Spain 76

Trinidad and Tobago 54 Greece 65 Barbados 76
Panama 54 Kiribati 65 Macao SAR, China 77
Vanuatu 55 Hungary 66 Chile 78
Montenegro 55 Croatia 67 Korea, Rep. 78
South Africa 58 Antigua and Barbuda 67 Czech Republic 79
Oman 58 Dominica 68
Romania 58 Bhutan 68
Micronesia, Fed. Sts. 59 Italy 68
Fiji 60 Bahamas, The 69
Jamaica 60 Cape Verde 69
Tonga 61 United Arab Emirates 69
Grenada 61 St. Kitts and Nevis 70
Palau 61 St. Lucia 70
Namibia 61 Israel 71

Code Ref: GRASP 2021 Country Risk Classification (WGI)

Publication date: December 2020
Page: 3 of 7
 COUNTRY RISK CLASSIFICATION
Valid from January 1, 2021 to December 31, 2021

LOW-RISK COUNTRIES BY RANKING

Lithuania 80 Netherlands 93

Slovenia 80 Iceland 94

Uruguay 81 Liechtenstein 94

United States 82 Denmark 95

French Guiana 82 Finland 96

Taiwan, China 83 Luxembourg 96

Portugal 84 Sweden 96

France 84 Switzerland 97

Belgium 84 Norway 97

Estonia 85 New Zealand 98

Aruba 86 Austria 91
United Kingdom 87 Andorra 91
Jersey, Channel Islands 88 Canada 93
Japan 88 Australia 93
Singapore 89
Greenland 89
Ireland 89
Germany 90

Code Ref: GRASP 2021 Country Risk Classification (WGI)

Publication date: December 2020
Page: 4 of 7
 COUNTRY RISK CLASSIFICATION
Valid from January 1, 2021 to December 31, 2021

ALL COUNTRIES BY RANKING (alphabetical order)

Afghanistan 8 Bulgaria 61 Ecuador 35

Albania 49 Burkina Faso 33 Egypt, Arab Rep. 24
Algeria 21 Burundi 8 El Salvador 37
Andorra 91 Cambodia 25 Equatorial Guinea 11
Angola 20 Cameroon 14 Eritrea 6
Antigua and Barbuda 67 Canada 93 Estonia 85
Argentina 47 Cape Verde 69 Ethiopia 25
Armenia 48 Cayman Islands 78 Fiji 60
Aruba 86 Central African Republic 7 Finland 96
Australia 93 Chad 8 France 84
Austria 91 Chile 78 French Guiana 82
Azerbaijan 28 China 41 Gabon 23
Bahamas, The 69 Colombia 47 Gambia, The 39
Bahrain 48 Comoros 19 Georgia 63
Bangladesh 21 Congo, Dem. Rep. 6 Germany 90
Barbados 76 Congo, Rep. 11 Ghana 53
Belarus 37 Costa Rica 71 Greece 65
Belgium 84 Côte d'Ivoire 32 Greenland 89
Belize 40 Croatia 67 Grenada 61
Benin 38 Cuba 38 Guatemala 27
Bhutan 68 Cyprus 76 Guinea 19
Bolivia 23 Czech Republic 79 Guinea-Bissau 14
Bosnia and Herzegovina 37 Denmark 95 Guyana 42
Botswana 71 Djibouti 22 Haiti 14
Brazil 44 Dominica 68 Honduras 27
Brunei Darussalam 71 Dominican Republic 43 Hong Kong SAR, 78
China
Hungary 66

Code Ref: GRASP 2021 Country Risk Classification (WGI)

Publication date: December 2020
Page: 5 of 7
 COUNTRY RISK CLASSIFICATION
Valid from January 1, 2021 to December 31, 2021

Iceland 94 Macao SAR, China 77 Pakistan 21

India 48 Madagascar 24 Palau 61
Indonesia 45 Malawi 32 Panama 54
Iran, Islamic Rep. 16 Malaysia 64 Papua New Guinea 26
Iraq 9 Maldives 41 Paraguay 38
Ireland 89 Mali 22 Peru 48
Israel 71 Malta 78 Philippines 40
Italy 68 Marshall Islands 48 Poland 71
Jamaica 60 Mauritania 26 Portugal 84
Japan 88 Mauritius 74 Puerto Rico 61
Jersey, Channel Islands 88 Mexico 37 Qatar 65
Jordan 49 Micronesia, Fed. Sts. 59 Romania 58
Kazakhstan 43 Moldova 40 Russian Federation 31
Kenya 31 Mongolia 51 Rwanda 53
Kiribati 65 Montenegro 55 Samoa 72
Korea, Dem. Rep. 9 Morocco 42 São Tomé and 43
Principe
Korea, Rep. 78 Mozambique 22 Saudi Arabia 46
Kosovo 37 Myanmar 18 Senegal 52
Kuwait 51 Namibia 61 Serbia 49
Kyrgyz Republic 27 Nauru 51 Seychelles 65
Lao PDR 24 Nepal 28 Sierra Leone 29
Latvia 75 Netherlands 93 Singapore 89
Lebanon 21 New Zealand 98 Slovak Republic 73
Lesotho 38 Nicaragua 17 Slovenia 80
Liberia 24 Niger 25 Solomon Islands 45
Libya 3 Nigeria 17 Somalia 2
Liechtenstein 94 North Macedonia 50 South Africa 58
Lithuania 80 Norway 97 South Sudan 1
Luxembourg 96 Oman 58 Spain 76

Code Ref: GRASP 2021 Country Risk Classification (WGI)

Publication date: December 2020
Page: 6 of 7
 COUNTRY RISK CLASSIFICATION
Valid from January 1, 2021 to December 31, 2021

Sri Lanka 46 Uruguay 81

St. Kitts and Nevis 70 Uzbekistan 20
St. Lucia 70 Vanuatu 55
St. Vincent and the 71 Venezuela, RB 5
Grenadines
Sudan 7 Vietnam 41
Suriname 44 West Bank and Gaza 31
Swaziland 28 Yemen, Rep. 2
Sweden 96 Zambia 34
Switzerland 97 Zimbabwe 11
Syrian Arab Republic 2
Taiwan, China 83
Tajikistan 12
Tanzania 30
Thailand 46
Timor-Leste 34
Togo 24
Tonga 61
Trinidad and Tobago 54
Tunisia 44
Turkey 39
Turkmenistan 12
Tuvalu 62
Uganda 30
Ukraine 32
United Arab Emirates 69
United Kingdom 87
United States 82

Code Ref: GRASP 2021 Country Risk Classification (WGI)

Publication date: December 2020
Page: 7 of 7