International broker Aon has released its 2009 political risk map, which identifies Venezuela, Ecuador, Bolivia and Cuba as Latin American countries with high political risk based on measures of the countries’ risk of currency inconvertibility and transfer; strikes, riots and civil commotion; war; terrorism; sovereign non-payment; political interference; supply chain interruption; and legal and regulatory risk.

Chile and Puerto Rico were noted as the only Latin American jurisdictions with low political risk, while Brazil, Mexico and Costa Rica were identified as medium-low risk.

None of the countries in Latin America were identified as having very high political risk, as the other countries in the region were all noted as having either medium or medium-high risk. Notably, Colombia received an upgrade from last year from medium-high to only medium risk.

In addition to the general ratings, the map also noted the following Latin American countries as having elevated risk based upon the possibility of sovereign default (Argentina, Venezuela, Bolivia, Ecuador and the Dominican Republic) and sensitivity to volatile commodity prices (Argentina, Venezuela, Bolivia, Ecuador and Peru).

To download a copy of the 2009 political risk map, please click here.