GCR Ratings has published the reviewed Country Risk Scores. The Country Risk Scores are available for download at https://gcrratings.com/risk-scores/. The Country Risk assessment, which is a key part of the operating environment score, interacts with GCR ratings in four ways. Firstly, the country risk scores create the foundation for the Anchor Credit Evaluator (the mapping table, see the Criteria for the GCR Ratings Framework and the interactive online map at GCRratings.com/criteria).
Eswatini’s insurance sector risk score of 2.75 reflects the counterbalance of low earnings risk and an intermediate regulatory environment by limited market size. The regulatory environment is characterised by a developing risk based solvency regime, an intermediate legislative framework and somewhat average transparency, albeit moderated by low levels of policy enforcement.
The Eswatini country risk score of '2.5' is largely a reflection of its weak monetary and fiscal policies, in addition to low economic growth and high inequality levels. The before mentioned results in increasing debt levels, domestic arrears and low foreign reserves. Strong imports and exports between South Africa and Eswatini are largely considered to be positive. The size and diversity of the economy is considered to be weak in comparison to its peers.