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 49 118 1231 1398 13 287 300 1698
Armenia 65 25 90 2 2 4 94
Azerbaijan 37 30 67 1 6 7 74
Belarus 152 127 636 915 1 1 916
Georgia 49 11 60 1 5 6 66
Kazakhstan 175 17 220 412 5 44 49 461
Kyrgyzstan 79 8 87 87
Moldova 135 135 135
Russia 49 118 1231 1398 13 287 300 1698
Tajikistan 14 1 15 15
Ukraine 302 509 811 13 30 43 854
Uzbekistan 5 5 5
Western Europe
Austria 181 16 1164 1361 20 5 226 251 1612
Belgium 122 27 268 417 48 22 70 487
Cyprus 21 16 37 6 23 29 66
Denmark 17 2 1650 1669 1 207 208 1877
Finland 17 15 608 640 19 274 293 933
France 230 29 1547 1806 1102 1102 2908
Germany 265 881 9316 10462 35 1696 1731 12193
Greece 26 4 30 2 38 40 70
Iceland 15 11 50 76 2 27 29 105
Ireland 32 28 60 258 258 318
Italy 122 2544 2666 67 24 810 901 3567
Luxembourg 3 53 56 3 866 869 925
Malta 75 30 105 2 2 107
Netherlands 97 1 152 250 1 1629 1630 1880
Norway 11 40 630 681 321 321 1002
Portugal 28 1 130 159 1 78 79 238
Spain 161 37 263 461 5 10 397 412 873
Sweden 24 5 297 326 16 60 734 810 1136
Switzerland 39 182 854 1075 354 354 1429
United Kingdom 98 1 385 484 2 2 3827 3831 4315
Developed Markets (excl. Europe)
Australia 35 6 493 534 1 892 893 1427
Canada 71 180 1071 1322 10 110 821 941 2263
Guernsey 5 5 1 49 50 55
Japan 466 75 861 1402 10 498 508 1910
New Zealand 13 9 100 122 3 55 58 180
Jersey 3 3 1 11 12 15
USA 586 177 13931 14694 5338 5338 20032
Eastern Europe
Albania 140 140 3 3 143
Bosnia and Herzegovina 81 6 8 95 2 2 97
Bulgaria 23 3 61 87 7 5 12 99
Croatia 41 3 23 67 9 10 19 86
Czech Republic 39 2 139 180 5 1 58 64 244
Estonia 11 66 77 1 7 8 85
Hungary 171 2 153 326 15 20 35 361
Latvia 11 81 92 10 5 15 107
Lithuania 88 5 93 11 2 13 106
Macedonia 149 149 3 3 152
Montenegro 9 1 10 3 3 13
Poland 270 75 686 1031 53 1 35 89 1120
Romania 40 39 8 87 12 5 17 104
Serbia 97 10 107 5 5 112
Slovakia 17 158 175 11 6 17 192
Slovenia 24 26 50 12 7 19 69
Turkey 52 366 418 35 103 138 556
Asia (excl. Japan)
Bangladesh 330 330 1 1 331
Bhutan 1 1 1
China 238 210 2268 2716 44 1 862 907 3623
Fiji 238 238 1 1 239
Hong Kong 67 463 530 3 443 446 976
India 111 388 4143 4642 158 158 4800
Indonesia 75 630 705 39 59 98 803
Korea 52 20 72 7 522 529 601
Laos 14 14 14
Malaysia 80 10 90 5 2 104 111 201
Mongolia 11 11 6 2 8 19
Myanmar 19 19 19
Nepal 25 25 25
Pakistan 32 32 7 7 39
Philippines 82 2 84 21 156 177 261
Singapore 22 345 367 242 242 609
Sri Lanka 73 73 9 6 15 88
Taiwan 113 29 142 41 41 183
Thailand 48 115 163 33 33 196
Vietnam 141 141 5 3 8 149
Latin America
Argentina 31 20 230 281 44 33 67 144 425
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 9 13 20
Bolivia 311 7 318 2 2 320
Brazil 53 1 1018 1072 23 2 273 298 1370
Cayman Islands 34 34 1 47 48 82
Chile 36 161 197 10 131 141 338
Colombia 40 4 326 370 21 1 49 71 441
Costa Rica 76 3 270 349 6 8 14 363
Dominican Republic 72 194 266 20 8 28 294
Ecuador 107 107 7 1 8 115
El Salvador 8 8 9 3 12 20
Grenada 2 2 2
Guatemala 17 17 4 9 13 30
Honduras 48 6 54 3 20 23 77
Jamaica 34 3 37 10 10 20 57
Mexico 64 1 83 148 45 282 327 475
Nicaragua 10 10 2 2 12
Panama 5 590 595 14 24 38 633
Paraguay 27 14 350 391 4 5 9 400
Peru 20 266 286 16 75 91 377
Saint Vincent and the Grenadines 7 7 1 1 8
Suriname 1 1 1
Trinidad and Tobago 22 22 4 5 9 31
Uruguay 38 38 19 5 24 62
Venezuela 71 20 91 22 47 69 160
Middle East
Bahrain 13 2 15 9 14 23 38
Iraq 1 1 1
Israel 30 585 615 34 38 72 687
Kuwait 43 12 55 18 18 73
Lebanon 251 251 34 2 36 287
Oman 13 14 27 3 8 11 38
Qatar 60 1 61 12 74 86 147
Saudi Arabia 2 39 41 3 27 30 71
United Arab Emirates 15 15 5 14 260 279 294
United Arab Emirates 15 15 5 14 260 279 294
Africa
Angola 281 281 2 2 283
Benin 13 13 13
Burundi 40 40 1 1 41
Chad 8 8 8
Cote d`Ivoire 27 27 3 70 73 100
Egypt 93 24 117 4 3 7 124
Ethiopia 1 1 1
Gabon 6 6 3 3 9
Ghana 95 10 105 5 5 110
Guinea-Bissau 1 1 1
Kenya 72 26 98 2 2 100
Mauritius 104 6 110 1 1 111
Morocco 55 114 169 5 4 9 178
Mozambique 1 1 1
Namibia 16 29 45 6 4 10 55
Niger 7 7 7
Nigeria 18 18 3 17 20 38
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 28 16 529 573 15 77 92 665
Tanzania 137 137 1 1 138
Togo 16 16 1 1 17
Tunisia 18 18 15 15 33
Uganda 41 41 41
Zambia 137 137 3 3 140
* the number of issues in Cbonds database (outstanding)