Country Vulnerability Scorecard

Country Vulnerability Scorecard # 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21

2009 current  account  Country balance / GDP Iceland ‐6% Bulgaria ‐18% Lithuania ‐15% Estonia ‐5% Greece ‐11% Spain ‐8% Latvia ‐6% Romania ‐11% UK ‐1% US ‐3% Ireland ‐3% Hungary ‐4% Poland ‐5% Ukraine ‐4% S. Af Africa rica ‐7% Denmark 2% France ‐2% Italy ‐2% Korea 1% Chile ‐4% Turkey ‐4%

2009 Govt.  debt / GDP 122% 18% 17% 4% 100% 48% 10% 13% 64% 78% 41% 69% 44% 22% 24% 28% 76% 114% 38% 4% 35%

Pvt. sector  credit / GDP 435% 71% 62% 96% 83% 167% 30% 35% 187% 227% 188% 63% 45% 63% 93% 185% 89% 84% 107% 77% 38%

Bank loans /  deposits 204% 130% 150% 190% 122% 116% 254% 122% 126% 100% 111% 119% 115% 150% 92% 167% 120% 128% 130% 127% 85%

Net ext.  assets / GDP ‐184% ‐72% ‐48% ‐67% ‐92% ‐75% ‐68% ‐39% ‐22% ‐17% ‐16% ‐93% ‐45% ‐17% ‐14% ‐6% 13% ‐5% ‐27% ‐2% ‐42%

Net short  term ext.  debt / GDP 248% 5% 6% 26% ‐6% ‐8% 38% ‐1% na na na ‐14% 1% ‐10% ‐5% na na 4% ‐20% ‐3% ‐4%

Banking  assets / GDP 1002% na na na 208% 189% na na 400% 161% 266% 38% 52% na 191% 244% 284% 163% 133% 67% 69%

2008 imports &  S&P Credit  exports / GDP Rating 103% BBB‐ 144% BBB 132% BBB+ 147% A 60% A‐ 61% AA+ 108% BBB‐ 84% BB+ 56% AAA 31% AAA 148% AAA 160% BBB 86% A‐ 92% B 75% BBB+ 108% AAA 56% AAA 59% A+ 110% A 85% A+ 50% BB‐

CDS  spreads 1,000 665 790 675 na 152 950 745 150 82 360 530 380 0 455 115 74 170 360 265 445

Score 32 29 28 28 27 27 26 24 24 23 23 22 21 21 20 20 19 19 18 18 16