EM Countries Debt Markets

- full coverage
- all except municipal bonds
- only Eurobonds and government bonds
- only Eurobonds
Country Government bonds Municipal bonds Corporate bonds Total bonds Government international bonds Municipal international bonds Corporate international bonds Total international bonds Total
CIS
Russia 50 118 1243 1411 13 293 306 1717
Armenia 62 28 90 2 2 4 94
Azerbaijan 34 29 63 1 5 6 69
Belarus 156 125 634 915 1 1 916
Georgia 49 11 60 1 5 6 66
Russia 50 118 1243 1411 13 293 306 1717
Kazakhstan 180 17 220 417 5 43 48 465
Kyrgyzstan 80 8 88 88
Moldova 138 138 138
Russia 50 118 1243 1411 13 293 306 1717
Tajikistan 21 1 22 22
Ukraine 303 499 802 13 32 45 847
Uzbekistan 5 5 5
Western Europe
Austria 178 16 1147 1341 20 5 224 249 1590
Belgium 142 27 271 440 30 21 51 491
Cyprus 20 16 36 6 26 32 68
Denmark 18 2 1649 1669 1 209 210 1879
Finland 17 15 601 633 18 283 301 934
France 233 30 1549 1812 1112 1112 2924
Germany 265 886 9245 10396 36 1769 1805 12201
Greece 26 5 31 2 39 41 72
Iceland 14 11 50 75 2 27 29 104
Ireland 32 28 60 266 266 326
Italy 123 2469 2592 67 25 814 906 3498
Luxembourg 4 82 86 3 877 880 966
Malta 82 29 111 2 2 113
Netherlands 97 1 152 250 2 1645 1647 1897
Norway 12 39 617 668 328 328 996
Portugal 28 2 128 158 1 78 79 237
Spain 159 48 296 503 5 9 387 401 904
Sweden 26 5 306 337 16 64 745 825 1162
Switzerland 38 184 859 1081 352 352 1433
United Kingdom 98 1 380 479 2 2 3909 3913 4392
Developed Markets (excl. Europe)
Australia 36 27 463 526 1 2 904 907 1433
Canada 73 180 1103 1356 9 112 842 963 2319
Guernsey 4 4 1 56 57 61
Japan 618 73 846 1537 10 513 523 2060
New Zealand 13 9 101 123 4 55 59 182
Jersey 2 2 1 13 14 16
USA 586 234 14128 14948 5632 5632 20580
Eastern Europe
Albania 140 140 3 3 143
Bosnia and Herzegovina 84 6 8 98 2 2 100
Bulgaria 23 3 63 89 7 5 12 101
Croatia 39 3 23 65 9 10 19 84
Czech Republic 41 2 137 180 5 1 60 66 246
Estonia 11 68 79 1 7 8 87
Hungary 174 2 146 322 15 20 35 357
Latvia 10 81 91 11 5 16 107
Lithuania 89 4 93 11 1 12 105
Macedonia 153 153 3 3 156
Montenegro 9 1 10 3 3 13
Poland 272 76 699 1047 53 1 34 88 1135
Romania 39 39 8 86 12 5 17 103
Serbia 95 10 105 5 5 110
Slovakia 16 160 176 11 6 17 193
Slovenia 26 25 51 13 7 20 71
Turkey 54 339 393 35 101 136 529
Asia (excl. Japan)
Bangladesh 328 328 1 1 329
Bhutan 1 1 1
China 236 240 2722 3198 43 1 867 911 4109
Fiji 237 237 1 1 238
Hong Kong 67 498 565 3 454 457 1022
India 110 398 4762 5270 162 162 5432
Indonesia 75 623 698 39 61 100 798
Korea 52 19 71 7 528 535 606
Laos 14 14 14
Malaysia 81 10 91 5 2 107 114 205
Mongolia 12 12 6 1 7 19
Myanmar 19 19 19
Nepal 25 25 25
Pakistan 35 35 7 7 42
Philippines 82 2 84 22 161 183 267
Singapore 22 344 366 249 249 615
Sri Lanka 72 72 9 6 15 87
Taiwan 113 30 143 41 41 184
Thailand 48 110 158 35 35 193
Vietnam 141 141 5 3 8 149
Latin America
Argentina 31 19 206 256 46 36 65 147 403
Aruba 3 3 3
Bahamas 4 2 6 6
Barbados 48 48 3 4 7 55
Belize 2 2 2
Bermuda 1 6 7 4 11 15 22
Bolivia 321 7 328 2 2 330
Brazil 53 1 997 1051 23 2 265 290 1341
Cayman Islands 35 35 1 46 47 82
Chile 36 161 197 10 135 145 342
Colombia 47 4 328 379 21 1 50 72 451
Costa Rica 77 3 263 343 6 8 14 357
Dominican Republic 70 192 262 22 6 28 290
Ecuador 106 106 7 1 8 114
El Salvador 8 8 9 2 11 19
Grenada 2 2 2
Guatemala 21 21 4 9 13 34
Honduras 51 6 57 3 20 23 80
Jamaica 33 3 36 10 10 20 56
Mexico 65 1 143 209 45 276 321 530
Nicaragua 10 10 2 2 12
Panama 5 605 610 14 23 37 647
Paraguay 27 15 432 474 4 5 9 483
Peru 20 259 279 18 75 93 372
Saint Vincent and the Grenadines 7 7 1 1 8
Suriname 1 1 1
Trinidad and Tobago 21 21 4 5 9 30
Uruguay 38 38 18 4 22 60
Venezuela 70 20 90 22 48 70 160
Middle East
Bahrain 13 2 15 9 15 24 39
Iraq 2 2 2
Israel 30 594 624 34 37 71 695
Kuwait 43 12 55 20 20 75
Lebanon 248 248 34 2 36 284
Oman 13 14 27 3 8 11 38
Qatar 68 1 69 11 75 86 155
Saudi Arabia 2 39 41 3 27 30 71
United Arab Emirates 14 14 19 270 289 303
United Arab Emirates 14 14 19 270 289 303
Africa
Angola 278 278 2 2 280
Benin 13 13 13
Burundi 45 45 1 1 46
Chad 8 8 8
Cote d`Ivoire 26 26 3 75 78 104
Egypt 90 23 113 7 3 10 123
Ethiopia 1 1 1
Gabon 6 6 3 3 9
Ghana 93 14 107 5 5 112
Guinea-Bissau 1 1 1
Kenya 71 26 97 2 2 99
Mauritius 107 6 113 1 1 114
Morocco 53 110 163 5 4 9 172
Mozambique 1 1 1
Namibia 16 29 45 6 4 10 55
Niger 7 7 7
Nigeria 18 18 4 17 21 39
Congo 1 1 1
Rwanda 11 11 1 1 12
Senegal 30 30 2 2 32
Seychelles 1 1 1
Sierra Leone 4 4 4
South Africa 27 16 654 697 15 90 105 802
Tanzania 137 137 1 1 138
Togo 16 16 1 1 17
Tunisia 18 182 200 16 16 216
Uganda 40 40 40
Zambia 132 132 3 3 135
* the number of issues in Cbonds database (outstanding)