Sultanate among global ‘elite 17’ - Oman is among an elite group of 17 countries that are at low risk of facing any kind of social unrest arising out of the financial downturn.

Times of Oman - 26/3/09

The downturn is set to “disrupt economies and topple governments around the world over the next two years”, according to a report published by the London-based Economist Intelligence Unit (EIU).

Of the 165 countries assessed in the report, 95 have been judged to be in the high or very high risk-category. Of the remainder, 53 are considered to be at moderate risk. Only 17 countries, with Political Instability Index points of less than four, are rated as low risk.

The Political Instability Index specially constructed to gauge the fallout of the global downturn, combines 15 social and political indicators to pinpoint the countries most at risk from social protest.

As per the report, Manning the barricades: Who’s at risk as deepening economic distress foments social unrest, among Arab countries, the Sultanate is best placed to face the challenges posed by the global financial crisis. Oman with 3.9 index points is the only country from among Arab countries and the AGCC to find a place in that elite category.

According to the report, the country with the least instability risk is Norway with 1.2 index points. Denmark with 2.2 index points comes second and is followed by Canada (2.8) and Sweden (3.2).

The highest risk category includes Afghanistan, Zimbabwe, Chad, Sudan, and Pakistan. Zimbabwe with 8.8 index points comes first in the highest risk category. There is only one Middle Eastern country in the very high risk group, Iraq (7.9 index points), placed sixth in the rankings.

Elite club

165 Norway 1.2; 164 Denmark 2.2; 163 Canada 2.8; 161 Finland, Sweden 3.2; 160 Switzerland 3.4; 158 Costa Rica, Mauritius 3.5; 154 Australia, Austria, Luxembourg, New Zealand 3.6; 153 Czech Republic 3.7; 150 Germany, Japan, Slovania 3.8; 149 Oman 3.9