By Richard Lander | 07:01:00 | 05 February 2010

Here’s an objective list of the 15 countries with the most costly credit default swaps – in other the words the costliest debt to insure in the market, courtesy of Business Insider:
As with all good lists, we go in reverse order of pain:
Bulgaria where CDS cost 214.6 basis points (ie 2.146% of the sum you want to insure or $21,460 per $1m of debt)
Hungary 247
Vietnam 249.6
Lebanon 250.2
Romania 250.9
Egypt 264.3
Lithuania 274.9
Greece 384.4
Latvia 483.3
Dubai 497.2
Iceland 674.6
Pakistan 877.4
Ukraine 896.8
Argentina 1002.5
Venezuela 1008.3

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