There is seemingly no easing of risk for the two countries, despite the anticipated third-quarter economic improvement.

Investors beware – countries in the region have been downgraded in Euromoney’s country risk survey this year.

Euromoney asked its panellists to rescore Lebanon’s risks in the aftermath of the port tragedy on August 4, with investors left pondering what’s next for a country now desperately in need of aid and finance for reconstruction.

Analysts can see through the economic and fiscal shock to observe a country with its underlying strengths intact.

The country is showing one of the more concerning trends among Asia’s emerging markets as politics and economics combine to increase investor risks.

El Salvador dives, while Panama copes as trade buckles, remittances drop and fiscal pressures intensify.

Euromoney’s survey shows the pandemic crisis is having both predictable and unexpected effects on economic, political and structural indicators as the world faces the biggest investor shock in living memory.

Protectionism is undermining an otherwise moderate global outlook as growth continues, labour markets tighten and geopolitical crises calm.

Investor safety has come under close scrutiny since June, resulting in a small but discernible decline in the global average risk score, halting a four-quarter improving trend.

Global risk subsided in the first half of the year, according to Euromoney’s country risk survey, with confidence in Europe maintained and commodity producers benefiting from better terms of trade. Yet with US interest rates rising, and Brexit, Russia and protectionism risks prevailing, investor prospects have more recently become uncertain for the remainder of 2018.

The risks of investing in developed countries eased in Q3 2017 due to strong economic growth, according to economists and other experts. Several large emerging markets (EMs) also became safer as volatility eased worldwide.

Euromoney’s latest Country Risk Survey shows a gradual rebalancing of risk scores this year, as the aftershocks of the global banking and sovereign debt crises wear off, political risks tied to the European electoral cycle fade, and capital access improves for EMs.

It won the Euros, it won Eurovision – now it is time to win back its lost investment grades.

Confidence in the oil producer is wavering as a bank crisis unfolds.

Euromoney’s country risk survey shows political risk rising in 64 countries this year. The march of populism is a key factor investors must consider before chasing tempting returns, but there are many others to guard against.

A stronger yen-won exchange rate underlines Japan’s perception of safety with Seoul now plunged into a crisis, awaiting elections and wary of tensions escalating on the Korean peninsula.

Theresa May’s decision to call a snap general election to increase her Conservative government’s majority has generated a positive reaction in the markets, but does not guarantee a more favourable investor climate.

The borrower’s gradually improving risk profile could see it overtake Brazil and Turkey before too long.

Egypt’s fall from grace is one of the more noteworthy of recent years.

Euromoney’s survey experts continue to downgrade the borrower, disagreeing with the president’s claims there is no justification for it.

Greece must find a way to secure more aid from its creditors, but is caught in the crossfire between the IMF defending its pleas for debt relief and European policymakers insisting on repayment. The outcome is likely to be messy given the preponderance of elections in Europe this year, and a sense of déjà vu by kicking the can further down the road.

In Q4 2016, Greece’s ECR score took another turn for the worse and declined by 0.27 points, dropping to 113th in the country risk rankings. This was a result of lower regulatory environment and overall demographic assessments, but most notably declining debt indicator scores. ECR asks two experts what the wider implications are for the eurozone.

Geert Wilders’ Eurosceptic-populist Freedom Party might win the forthcoming parliamentary elections. Yet the prospect of him forming a government is low, preventing political risk from overshadowing economic and fiscal strengths.

The country has disappointed investors by revealing undisclosed liabilities, which is underlining how African borrowers must be treated with caution.

Leaping into tier three, the country is on course to regain the rating it lost four years ago.

The rating agencies still won’t budge as the two countries’ risk scores diverge.

The borrower is on its knees, crippled by a huge debt burden and in need of an external lifeline. Only an IMF deal can improve its fortunes.

Euromoney Country Risk shows global risk rising, as leading economists and political experts revise their views on asset safety.

Its risk score is still improving, but it should not be ignored the borrower is still an acute-risk, tier-five option, a year on from the elections.

The borrower is on shakier ground as its ability to refinance debt is questioned.