The Countries Most Likely To Default


BANGALORE: In today’s world, money is the source of everything. It plays a very important part in life and in the sustenance of a country. There are many countries that are wealthy and rich, but some are left with very few money resources to be utilized and are on the verge of bankruptcy.

The bankruptcy of some of the countries proves fatal for its citizen as well and has an adverse effect. Based on credit ratings provided by Moody’s Investors Service, 24/7 Wall St. reviewed the 11 countries with poor credit ratings indicating the bad economic condition prevailing in the concerned country. Let us have a look at the countries that are at a brim of bankruptcy.

Argentina

Argentina faced many economic problems and the most severe economic crisis came in 2001-02, which led to violent public protests and resignations of the country’s presidents. During this period, the country faced major economic, social, and political crisis, eventually the government took measures to mend ties with the international financial community, by engaging with the International Monetary Fund to improve its economy.

Argentina has rich natural resources combined with a highly literate population, an export-oriented agricultural sector, and a diversified industrial base. It was one of the world's wealthiest countries 100 years ago but suffered badly from recurring economic crises, high inflation, and rising external debt in the 20th century.

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