The assessment also notes the following global and regional themes:

- Greater use of capital controls. Countries such as Angola, Ghana and Nigeria are expected to keep existing capital account restrictions. China will most probably tighten controls to manage capital outflows, which could discourage foreign investment
- Oil-producing nations' requirements to find substitutes for lost revenues will put pressure on their corporate sectors; at minimums through tax regime adjustments and at extremes through initial public offerings of state-owned enterprises. Producers such as the Gulf Cooperation Council countries, Colombia, Malaysia, Kazakhstan and now Russia that have more resilient institutions and greater foreign currency reserves will be better positioned to survive this cycle. Angola, Ecuador, Ghana and Venezuela are not so fortunate. In the current climate investors should prepare for increases in defaults and arrears from state owned enterprises.
- Liquidity support. Certain countries will require financial support from the International Monetary Fund and other multilateral financial institutions to assist their adjustment to the commodity price shock.
- Levels of political violence will remain high. ISIS, despite losing territory, is gaining influence and providing cover to other radical extremists. These trends will also increase refugee flows.
- Economic challenges and border disputes in Asia will encourage nationalism. In some cases, there will be increased defense spending and military shows of strength
- Greater government intervention and populist pressure in the Commonwealth of Independent State countries will further undermine policy implementation. Ukraine could put its IMF program at risk.
- Positive trends will include the progressive lifting of sanctions on Cuba and Iran, and a more pro-business policy stance in Argentina following the election of President Mauricio Macri.

To check out the interactive maps and obtain a copy of the most recent political and terrorism risk reports, visit Aon's risk maps portal.

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