Global survey ranks Oman among low-risk countries

LONDON: The Sultanate has been classified among the countries with the lowest political and economic impact in the Middle East from the COVID-19 pandemic and the fall in oil prices.

Euromoney Magazine published its risk survey for 1Q 2020 measuring 174 countries which coincides with the coronavirus crisis and the fall in international oil prices due to decreasing demand and a growing supply glut.

The report said that Oman has ranked 47th globally in the list of countries with lowest risk.

The GCC states appear to be prepared to cope with the crisis and shown an ability to instantly provide package of large-scale financial and social measures despite the suspension of commercial flights and tourist activities, the report said.

The survey showed that the average risk score in the Middle East region has fallen by 0.77 per cent lower than Asia, Central and Eastern Europe and Latin America.

The survey is conducted quarterly among several hundred economists and other experts, with the results compiled and aggregated, along with a measure of capital access and sovereign debt statistics, to provide total risk scores and rankings. — ONA