My 2c. I also think we could update the spreadsheet while discussing this (and add it to the global drive ;))
COUNTRY LABELS
Used as a stakeholder mark today vs. local instance project which shows what each dev group is working on, no?
The way I see it a democratic way of deciding the priority of an issue 
FUNCTION/FEATURE LABELS
Mostly covered by projects but could be another grouping level, e.g. “stripe” is a project but is a kind of a “payment method”. Searching for the term would not include terms spelled a bit different/typos.
SKIP CODE REVIEW LABEL
No strong feelings against removing, but could be the other PR labels like PR no review. This could also be there on the 1 issue as a motivation for us to automate the Transifex process 
SECURITY
This is a function/feature label vs. priority labels which have a different nature. Keeping the label on the current 2 open issues also helps our shiny future security expert when he/she arrives 
WIP
Suggest renaming to PR wip in line with new suggestions PR test ready and PR no test
PR test ready
Kind of duplicate of (Zenhub) Pipeline column ‘Test ready’, but as this is not working optimally with GH projects I agree on adding.
PR no test
Agree. Same nature as a potential PR no review