As a result of the rapid political, economic and social changes in the world in recent years, the fact that businesses are not satisfied with domestic activities and want to take advantage of opportunities outside the country has led to the emergence of foreign organizations and multinational companies operating in foreign countries. Increased competition in the international arena has necessitated forward sales. All these developments have brought along an important type of risk, country risk. “Karayel & Partners” discusses country risk, types, consequences and measurement of country risk.