EM Countries Debt Markets

- full coverage
- all except municipal bonds
- only Eurobonds and government bonds
- only Eurobonds
Land Government bonds Municipal bonds Corporate bonds Total bonds Government international bonds Municipal international bonds Corporate international bonds Total international bonds Total
CIS
Armenia 53 20 73 2 2 4 77
Azerbaijan 35 34 69 1 10 11 80
Belarus 166 128 666 960 1 1 961
Georgia 44 9 53 1 4 5 58
Kazakhstan 172 17 222 411 5 47 52 463
Kyrgyzstan 80 6 86 86
Moldova 132 132 132
Russia 48 117 1211 1376 13 1 271 285 1661
Tajikistan 11 11 11
Ukraine 278 1 640 919 13 32 45 964
Uzbekistan 5 5 5
Western Europe
Austria 182 16 1166 1364 18 3 228 249 1613
Belgium 141 10 263 414 31 24 55 469
Cyprus 24 9 33 6 13 19 52
Denmark 18 2 1706 1726 1 201 202 1928
Finland 17 13 673 703 18 236 254 957
France 235 25 1510 1770 1054 1054 2824
Germany 276 857 9445 10578 32 1387 1419 11997
Greece 25 2 27 3 39 42 69
Iceland 16 10 54 80 2 23 25 105
Ireland 31 37 68 244 244 312
Italy 121 1 2727 2849 64 19 827 910 3759
Luxembourg 3 122 125 3 698 701 826
Malta 88 27 115 1 1 116
Netherlands 101 162 263 1 1471 1472 1735
Norway 11 45 662 718 301 301 1019
Portugal 27 1 135 163 1 81 82 245
Spain 85 32 260 377 4 5 371 380 757
Sweden 24 3 294 321 18 57 695 770 1091
Switzerland 37 175 844 1056 350 350 1406
United Kingdom 103 1 406 510 2 1 3439 3442 3952
Developed Markets (excl. Europe)
Australia 35 4 426 465 1 817 818 1283
Canada 70 134 507 711 9 92 762 863 1574
Guernsey 4 4 1 34 35 39
Japan 474 76 886 1436 9 470 479 1915
New Zealand 12 8 100 120 2 45 47 167
Jersey 3 3 1 8 9 12
USA 591 193 12637 13421 4472 4472 17893
Eastern Europe
Albania 136 136 3 3 139
Bosnia and Herzegovina 76 6 8 90 2 2 92
Bulgaria 24 2 65 91 7 5 12 103
Croatia 40 3 24 67 9 10 19 86
Czech Republic 40 2 153 195 6 1 59 66 261
Estonia 9 61 70 1 7 8 78
Hungary 158 2 183 343 15 19 34 377
Latvia 11 77 88 9 6 15 103
Lithuania 105 10 115 11 2 13 128
Macedonia 148 148 3 3 151
Montenegro 10 1 11 4 4 15
Poland 261 76 698 1035 50 1 34 85 1120
Romania 39 39 8 86 12 5 17 103
Serbia 102 10 112 5 5 117
Slovakia 17 153 170 11 6 17 187
Slovenia 29 28 57 12 8 20 77
Turkey 50 407 457 34 100 134 591
Asia (excl. Japan)
Bangladesh 344 344 1 1 345
Bhutan 1 1 1
China 222 16 355 593 40 1 797 838 1431
Fiji 218 218 1 1 219
Hong Kong 70 262 332 3 424 427 759
India 109 264 2440 2813 156 156 2969
Indonesia 74 638 712 36 62 98 810
Korea 49 20 69 7 493 500 569
Laos 10 10 10
Malaysia 84 7 91 5 1 94 100 191
Mongolia 22 22 6 3 9 31
Myanmar 1 1 1
Pakistan 33 33 6 6 39
Philippines 81 15 96 23 127 150 246
Singapore 21 360 381 222 222 603
Sri Lanka 76 76 9 6 15 91
Taiwan 114 31 145 43 43 188
Thailand 51 119 170 33 33 203
Vietnam 134 134 5 5 10 144
Latin America
Argentina 28 8 275 311 42 32 76 150 461
Aruba 3 3 3
Bahamas 4 1 5 5
Barbados 46 46 3 4 7 53
Belize 2 2 2
Bermuda 1 7 8 3 10 13 21
Bolivia 281 8 289 2 2 291
Brazil 52 8 60 24 2 283 309 369
Cayman Islands 19 19 1 41 42 61
Chile 37 136 173 10 123 133 306
Colombia 16 37 53 22 1 51 74 127
Costa Rica 62 3 204 269 6 8 14 283
Dominican Republic 71 199 270 20 6 26 296
Ecuador 109 109 6 1 7 116
El Salvador 2 2 9 3 12 14
Grenada 2 2 2
Guatemala 17 17 4 9 13 30
Honduras 45 4 49 2 19 21 70
Jamaica 33 3 36 10 10 20 56
Mexico 65 4 69 46 285 331 400
Nicaragua 10 10 2 2 12
Panama 5 563 568 13 23 36 604
Paraguay 29 16 322 367 4 6 10 377
Peru 19 281 300 16 77 93 393
Saint Vincent and the Grenadines 8 8 1 1 9
Trinidad and Tobago 21 21 4 4 8 29
Uruguay 39 39 19 5 24 63
Venezuela 74 18 92 18 41 59 151
Middle East
Bahrain 12 2 14 7 15 22 36
Iraq 1 1 1
Israel 30 605 635 33 41 74 709
Kuwait 36 12 48 14 14 62
Lebanon 248 248 35 2 37 285
Oman 11 15 26 3 8 11 37
Qatar 56 1 57 12 72 84 141
Saudi Arabia 3 40 43 27 27 70
United Arab Emirates 7 7 12 6 250 268 275
Africa
Angola 261 261 2 2 263
Benin 13 13 13
Burundi 10 10 1 1 11
Chad 6 6 6
Cote d`Ivoire 27 27 3 61 64 91
Egypt 100 28 128 3 3 6 134
Ethiopia 1 1 1
Gabon 5 5 3 3 8
Ghana 102 10 112 5 5 117
Guinea-Bissau 1 1 1
Kenya 72 28 100 2 2 102
Mauritius 104 6 110 1 1 111
Morocco 57 116 173 5 4 9 182
Mozambique 1 1 1
Namibia 16 20 36 2 4 6 42
Niger 8 8 8
Nigeria 18 18 3 14 17 35
Congo 1 1 1
Rwanda 11 11 1 1 12
Senegal 28 28 2 2 30
Seychelles 1 1 1
South Africa 28 16 429 473 13 76 89 562
Tanzania 134 134 1 1 135
Togo 17 17 1 1 18
Tunisia 19 19 15 15 34
Zambia 124 124 3 3 127
* the number of issues in Cbonds database (outstanding)