Venezuela No. 1 ... In Default Risk

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For all the press coverage about fiscal woes in Dubai and Greece, the country most likely to default on its debt is Hugo Chavez’s Venezuela.

The country leapfrogged to the top spot in Q4 2009, with a greater than 50% chance of going deadbeat on its $90 billion in sovereign bonds, according to CMA Datavision, a U.K.-based company that compiles comparative data about credit default swaps.

Dubai ranks sixth, and Greece a lowly eighth.

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