For businesses, Venezuela is the riskiest, Norway the safest

Venezuela is the riskiest country in the world for businesses. A devalued currency, rampant inflation, and shortages of goods from milk to cars make it the worst place for corporations to do business and to locate their supply chains, according to a new risk report by commercial property insurer FM Global.

Companies such as General Mills Inc. GIS, +0.44%  , Goodyear Tire & Rubber Co. GT, +1.08% and Ford Motor Co. F, -0.12%  have cited Venezuela as a financial concern for their earnings in recent earnings weeks . Ford, for example, took an $800 million pretax charge in the fourth quarter related to the devaluation of the Venezuelan bolivar. Venezuela’s access to oil was the one positive outweighed by a litany of negatives.

FM Global ranked 130 countries based such factors as their economic growth, political risk, exposure to natural hazards, risk management, infrastructure and control of corruption.

FM Global began publishing its rankings last year in an effort to give clients some sense of the risks that could affect their far-flung businesses, said Bret Ahnel, vice president of staff operations at the insurer.

Norway ranked as the least-risky country in the world, followed by Switzerland, and the Netherlands. The best non-European country was Qatar, ranked number 7, followed by Canada, ranked at 8.

An expanded version of this report appears on WSJ.com

Filed in: Top News Tags: 

You might like:

The government has no idea how many gig workers there are—why that’s a problem The government has no idea how many gig workers there are—why that’s a problem
God-fearing countries are among the least wealthy—with one notable exception God-fearing countries are among the least wealthy—with one notable exception
America’s 1% hasn’t controlled this much wealth since before the Great Depression America’s 1% hasn’t controlled this much wealth since before the Great Depression
Women don’t see men who drive flashy cars as husband material Women don’t see men who drive flashy cars as husband material
The New York Post: Trump dubs himself ‘your favorite president’ in tweet about Michael Cohen tape The New York Post: Trump dubs himself ‘your favorite president’ in tweet about Michael Cohen tape
The Wall Street Journal: Cease-fire in place between Israel and Hamas in Gaza Strip The Wall Street Journal: Cease-fire in place between Israel and Hamas in Gaza Strip
The New York Post: New York Giants owner says Trump lacks understanding of NFL players’ anthem protests The New York Post: New York Giants owner says Trump lacks understanding of NFL players’ anthem protests
The New York Post: Most of music business’s top money makers in 2017 had been at it for decades The New York Post: Most of music business’s top money makers in 2017 had been at it for decades
© 2018 Stock Investors News. All rights reserved. XHTML / CSS Valid.