Sovereign Defaults Set to Hit Record in 2020

“Fitch rates five sovereigns at ‘CCC’ or below (excluding those in default): Gabon, Mozambique, Republic of Congo and Suriname at ‘CCC’ and Zambia at ‘CC’. The average annual default rate over 1995-2019 for ‘CCC/CC/C’ sovereigns was 26.5% and the cumulative five-year default rate was 38.5%.”

via Fitch Ratings