Chapter 4
Country Risk Assessment in Practice
Not everything that can be counted counts, and not everything that counts can be counted.
Albert Einstein1
Creating a Risk Management Framework
One of the challenges corporate management and country risk analysts face in crafting a methodology that will gain wide acceptance in an organization is a tendency for existing risk management practices and biases to inhibit development of a tool that does not reproduce the defects inherent in the system. Among the most common impediments are:
• A breakdown in communication between analysts, risk management, and senior management
• Unresolved conflicts between staff and management
• A tendency to overlook or ignore defects or problems
• Killing the messenger ...
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