Wednesday 20 March 2019

Ireland falls four places in world financial development ranking

IRELAND has fallen to 22nd place from 18th in the latest World Economic Forum on financial development.

While this country is ranked highly for its business and institutional environments, its financial stability ranking is 57th out of 60.

According to the report, a “very unstable” banking system and the risks of a sovereign debt crisis are weighing on the score.

For the first time ever, either the UK or the US are not in number one position with that gong going to Hong Kong.

Other top performers included Canada, Australia and Switzerland coming high up in the rankings.

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