In Q4 2011, business failures decreased particularly strongly in North America, but rose sharply in Asia (excluding China). Insolvencies continued to raise in Euroland amid sovereign debt crises. We expect insolvency levels to remain elevated over H1 2012 and into H2 as renewed uncertainty over the euro-zone crisis tighten credit conditions further and increases volatility in asset, currency and commodity markets.

The variations both across and within regions provide a further reminder of the importance of carefully monitoring regional and country-specific developments to assess the risks and opportunities when doing business across the globe.

 

Brazil:

Key global institutions provide a favorable analysis of the country's financial sector.

Iran:

D&B downgrades Iran's country risk rating in the face of further international sanctions.

United Kingdom:

The budget does little to stimulate economic growth in the medium term.