Key Highlights from the Atradius Risk Map Q1 2026

The latest update to the Atradius Country Risk Map offers a clear snapshot of risk levels across more than 200 countries and territories. 79 are assessed as low risk and 26 as moderate, while the largest group, 102 economies, falls into the high‑risk category. The findings underline how widespread risk remains and help businesses stay alert, informed and better equipped to navigate the challenges of international trade.

The changes reflect conditions at the end of Q1 2026, with upgrades for Ghana, Kenya, Moldova, the Republic of the Congo and Tunisia, and a downgrade for Nicaragua.

Country highlights  

According to Dana Bodnar, Senior Economist at Atradius, “Nicaragua’s downgrade reflects an increasingly repressive political environment, rising exposure to United States sanctions and new tariff threats. Limited access to finance and ongoing trade uncertainty are heightening transfer and convertibility risks.”

Commenting on Moldova’s upgrade, Bodnar explained that it “follows a pro‑European election result, deeper integration with European Union markets and stable public finances. A shift in trade patterns is supporting exports and strengthening the banking sector, easing payment risk despite the broader geopolitical backdrop.”

On Ghana, Bodnar noted that the country’s upgrade “reflects IMF‑backed fiscal consolidation, the near‑completion of debt restructuring and stronger financial buffers. Better growth prospects and improved reserves are reducing payment risk, although the restructuring process and fiscal pressures continue to weigh on the outlook.”

What is the Atradius Risk Map?

The Atradius Risk Map provides a global view of country risk levels, based on assessments by our Economic Research Team. Using the STAR rating system, it evaluates political and economic risks, civil unrest and conflict to help businesses navigate uncertainty with greater confidence.

Our interactive Risk Map allows users to explore risk levels country by country. Each profile includes key macroeconomic indicators, the STAR rating, ESG metrics and expert insights into sector performance.

For companies trading internationally, a stable business environment is essential. Adverse developments can erode profits, disrupt operations and undermine investment decisions. Monitoring both the level of risk and how it evolves is therefore critical, but it is only part of the picture. Ultimately, payments depend on the financial strength and reliability of end customers.

Credit insurance supports this process by assessing potential buyers before relationships begin and by continuously monitoring risks. To learn how these insights can strengthen your credit risk strategy, speak to our team and discover how we can help you stay ahead.

To explore how to strengthen your own credit risk strategy, get in touch with us and see how we can help you stay ahead.