According to the annual Milken Institute Capital Access Index (CAI) the United Kingdom has the most efficient financial market. The countries’ markets are ranked on more than 50 criteria, from the strength of their banking systems and the diversity and efficiency of financial markets to general economic conditions.

The financial markets are evaluated from 1998. Current index covers 121 countries. Besides the UK the 2005 CAI top ten includes Hong Kong (last year’s number one), Singapore, USA, Sweden, Denmark, Australia, Norway, Finland, Canada and Ireland.

Placed 21 Estonia remaines the champion in terms of capital access amongst the post-communist countries, followed by the Czech Republic – 32, Lithuania – 35, Hungary – 36, Slovakia – 43, Poland – 45, and Latvia – 46.

Amongst the CIS countries Russia shows the best performance (51 position). Armenia ranks 65, Moldova – 70, and Ukraine 71.

Belarus ties with Mozambique the 88 place in the Milken Institute 2005 CAI. Belarus scored 3.36 points. This figure was 0.25 more than last year. As a result Belarus jumped from the 96 on the global ranking. As in the last year Belarusian financial market remains the worst suited to entrepreneurship amongst the European states; however Belarus leaves behind such countries as Burkina Faso, Angola, Zimbabwe and Chad.