摘要：The article presents some of the fundamental aspects of country risk’ dependence compared to foreign debt level. Starting from external debt burden we analyze the usage of foreign loans, foreign debt bearing capacity as well as the availability of data regarding the external debt. Country risk represents the exposure to losses which may occur in a business with a foreign partner, caused by specifi c events that are, at least partially, controlled by the partner country’ government. Macroeconomic analysis of economic and fi nancial component of country risk involves how this risk is infl uenced by government policy, by the economic role of government, by pricing strategies, investment priorities, fi nancial structures, macroeconomic policy, by the ability to obtain foreign funds, the level of external debt as well as the liquidity and cash fl ows in that country.
关键词：external debt level; external debt burden; debt service ratio;capital infl ows; economic strategies; external debt cycle; critical level of debt
