Yet another item urgently needed in the non-existent FAQ.
Whether or not there is any correspondence between an ip address and a country depends on what you mean by "correspondence":
(1) What country is the company who "owns" the address located in?
(2) What country does the TLD of the domain name that maps to the address represent?
(3) What country is the server physically located in?
(4) What country is someone whose browser originates from a particular ip actually in?
I've ranked these in more-or-less increasing order of difficulty. For (1) you can just go to ARIN, RIPE, or APNIC''s web page and ask. (2) used to be easy except for .com, .net, edu, and .org, but now that some places are just selling domains to anyone (e.g. .tv) not all country codes mean something anymore. If there is a way to easily find out (3), I'm not aware of it, though a traceroute is often informative as the backbone folks tend to give their routers helpful names. (4) is easy if you can tell that the host is a single-user system (e.g. Win9x, Mac) but otherwise you have no idea--coming from a unix host or even a WinNT server (could be citrix/terminal services) it could be anyone from anywhere.