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
Armenia 48 17 65 2 2 4 69
Azerbaijan 34 41 75 1 9 10 85
Belarus 163 127 687 977 1 1 978
Georgia 49 8 57 1 4 5 62
Kazakhstan 176 225 401 5 47 52 453
Kyrgyzstan 76 6 82 82
Moldova 134 134 134
Russia 50 111 1167 1328 13 1 287 301 1629
Tajikistan 8 8 8
Ukraine 279 2 594 875 12 30 42 917
Uzbekistan 7 7 7
Western Europe
Austria 189 16 1102 1307 21 3 227 251 1558
Belgium 141 2 210 353 32 28 60 413
Cyprus 27 9 36 5 14 19 55
Denmark 14 47 1410 1471 2 25 164 191 1662
Finland 16 4 510 530 18 232 250 780
France 237 22 1425 1684 1019 1019 2703
Germany 282 883 9551 10716 28 1315 1343 12059
Greece 25 4 29 4 41 45 74
Iceland 18 11 54 83 3 19 22 105
Ireland 31 53 84 207 207 291
Italy 124 2 1614 1740 66 17 846 929 2669
Luxembourg 3 126 129 3 645 648 777
Malta 92 25 117 1 1 118
Netherlands 69 159 228 1 1403 1404 1632
Norway 11 49 719 779 288 288 1067
Portugal 26 135 161 1 76 77 238
Spain 85 28 261 374 4 5 361 370 744
Sweden 22 10 248 280 17 95 648 760 1040
Switzerland 39 173 793 1005 273 273 1278
United Kingdom 103 1 491 595 2 1 3239 3242 3837
Developed Markets (excl. Europe)
Australia 34 3 362 399 1 781 782 1181
Canada 71 134 488 693 8 81 701 790 1483
Guernsey 9 9 1 93 94 103
Japan 372 68 912 1352 9 461 470 1822
New Zealand 12 7 91 110 1 2 34 37 147
Jersey 32 32 1 37 38 70
USA 448 196 12064 12708 3503 3503 16211
Eastern Europe
Albania 130 130 3 3 133
Bosnia and Herzegovina 74 6 7 87 2 2 89
Bulgaria 25 2 61 88 7 4 11 99
Croatia 41 4 22 67 9 11 20 87
Czech Republic 45 2 165 212 6 1 62 69 281
Estonia 9 55 64 1 7 8 72
Hungary 154 2 203 359 16 21 37 396
Latvia 13 76 89 9 6 15 104
Lithuania 113 16 129 11 2 13 142
Macedonia 151 151 2 2 153
Montenegro 13 1 14 4 4 18
Poland 267 81 716 1064 49 1 34 84 1148
Romania 37 39 9 85 13 6 19 104
Serbia 107 10 117 5 5 122
Slovakia 17 160 177 12 6 18 195
Slovenia 29 32 61 12 7 19 80
Turkey 52 496 548 34 98 132 680
Asia (excl. Japan)
Bangladesh 354 354 1 1 355
China 225 116 341 36 739 775 1116
Fiji 1 1 1
Hong Kong 71 286 357 3 371 374 731
India 85 713 798 147 147 945
Indonesia 70 7 77 30 58 88 165
Korea 46 17 63 7 486 493 556
Malaysia 86 3 89 6 1 92 99 188
Mongolia 37 37 6 3 9 46
Pakistan 6 6 6
Philippines 83 15 98 23 122 145 243
Singapore 20 326 346 205 205 551
Sri Lanka 2 2 7 6 13 15
Taiwan 113 32 145 42 42 187
Thailand 46 4 50 34 34 84
Vietnam 5 5 10 10
Latin America
Argentina 24 6 4 34 44 28 59 131 165
Aruba 1 1 3 3 4
Bahamas 4 1 5 5
Barbados 3 3 6 6
Belize 2 2 2
Bermuda 9 9 3 26 29 38
Bolivia 268 9 277 2 2 279
Brazil 50 6 56 23 2 284 309 365
Cayman Islands 43 43 1 92 93 136
Chile 35 139 174 10 123 133 307
Colombia 18 35 53 22 1 50 73 126
Costa Rica 60 3 221 284 6 8 14 298
Dominican Republic 229 229 17 6 23 252
Ecuador 5 1 6 6
El Salvador 9 3 12 12
Grenada 2 2 2
Guatemala 4 8 12 12
Honduras 4 4 2 9 11 15
Jamaica 3 3 10 11 21 24
Mexico 68 3 71 43 279 322 393
Nicaragua 2 2 2
Panama 7 7 14 21 35 42
Paraguay 12 85 97 4 6 10 107
Peru 19 295 314 15 75 90 404
Saint Vincent and the Grenadines 1 1 1
Trinidad and Tobago 3 4 7 7
Uruguay 19 4 23 23
Venezuela 76 18 94 19 41 60 154
Middle East
Bahrain 11 11 7 12 19 30
Iraq 1 1 1
Israel 32 1 33 33 27 60 93
Kuwait 34 34 9 9 43
Lebanon 242 242 32 2 34 276
Oman 11 11 8 8 19
Qatar 44 44 12 57 69 113
Saudi Arabia 4 4 26 26 30
United Arab Emirates 3 3 12 6 218 236 239
Africa
Angola 171 171 2 2 173
Benin 11 11 11
Burundi 10 10 1 1 11
Chad 6 6 6
Cote d`Ivoire 27 27 3 53 56 83
Egypt 99 32 131 4 3 7 138
Ethiopia 1 1 1
Gabon 6 6 3 3 9
Ghana 123 10 133 4 4 137
Kenya 70 29 99 2 2 101
Mauritius 101 6 107 107
Morocco 59 116 175 5 4 9 184
Mozambique 1 1 1
Namibia 16 22 38 2 4 6 44
Niger 8 8 8
Nigeria 17 17 3 13 16 33
Congo 1 1 1
Rwanda 9 9 1 1 10
Senegal 28 28 2 2 30
Seychelles 1 1 1 1 2
South Africa 28 17 431 476 13 67 80 556
Tanzania 132 132 1 1 133
Togo 16 16 1 1 17
Tunisia 17 17 14 14 31
Zambia 124 124 3 3 127
* the number of issues in Cbonds database (outstanding)