What economic variables would give some indication of the country risk present in a particular country?

What will be an ideal response?

To help investors discriminate between financially and economically sound and financially and economically troubled countries, a number of economic variables are used, including the following:
? The ratio of a country's external debt to its GDP
? The ratio of a country's debt service payments to its exports
? The ratio of a country's imports to its official international reserves
? A country's terms of trade (the ratio of its export to import prices)
? A country's current account deficit

These variables are directly related to the ability of the country to generate inflows of foreign exchange. Factors such as inflation and real economic growth are useful as well.