10 Countries On The Edge Of Bankruptcy


BANGALORE: India is a country that comes into the list of developing countries, though the pace of development is slow. But other than India, there are countries that are still battling with the last decade’s financial crisis. These countries have failed to pay their debts in the recent years.

The reasons have been severe downgrades due to political conditions or disposed financial situations. Based on ratings from Moody's Investors Service, here is the list of 11 countries that are at risk of bankruptcy as compiled by the USA TODAY.

(1) Ecuador

Ecuador is a representative democratic republic country in northwestern South America. The country has to pay 24.8 percent of its GDP to the government in 2014. While it’s GDP per capita was calculated to $10,492 in 2014.

Though, the year 2011 marked a record decrease of poverty rate from 40 percent in 2001 to 17.4 percent of its total population in 2011.  However, starting in 2008 with the dreadful financial performance of the nations, Ecuador's Moody's credit rating has steadily risen, reaching Caa1 in 2012.

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