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 Ukraine hits top three economies close to default. MAP

Venezuela, Greece and Ukraine have entered the top three countries whose national debts are considered the most risky by the analyst from Bank of America Merrill Lynch.

Sovereign credit-default swaps have been used as a type of insurance against sovereign governments not paying back the money they owe. As with any insurance product, the more expensive it is, the more likely the event you're insuring against will happen soon, Censor.NET reports citing NV and Business Insider.

Read more: Ukraine has settled $120-million Eurobond coupon payment, avoiding technical default, - UNIAN

Venezuelan debt is by far the most risky, costing twice as much as Greek or Ukrainian debt to insure. They are followed by Pakistan and Egypt. Sixth place is occupied by Cyprus, Russia hits the seventh, eighth - Brazil, ninth - Kazakhstan. Turkey closes the antitop 10.

The top 10 of the most stable and creditworthy countries includes: Germany, Switzerland, Sweden, the USA, UK, France, New Zealand, Australia, Japan and South Korea. July 24, Ukraine effected regular payments on Eurobonds in the amount of $120 million and managed to avoid a technical default.

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