Some Middle Eastern and North African (MENA) sovereigns could be more susceptible than others to contagion from the current revolt in the Republic of Tunisia (foreign currency ratings BBB/Watch Neg/A-3, local currency BBB+/Watch Neg/A-2 ), says Standard & Poor's Ratings Services today in a report.
Many of the economic and political factors that contributed to the protests leading to the resignation of Tunisia's president Zine El Abidine Ben Ali in mid-January 2011 can be found to different degrees and varying combinations in
other sovereigns in the region, says the report "Tunisia's Jasmine Revolution Is Adding To Political And Fiscal Risks In The MENA Region".
"Although we don't expect a wave of regional political instability, we see Egypt, Algeria, and Jordan, and to a lesser degree Morocco as most vulnerable in this respect," said Standard & Poor's credit analyst Kai Stukenbrock.
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