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 52 20 72 2 2 4 76
Azerbaijan 35 33 68 1 10 11 79
Belarus 167 126 668 961 1 1 962
Georgia 46 9 55 1 4 5 60
Kazakhstan 174 16 224 414 5 47 52 466
Kyrgyzstan 82 6 88 88
Moldova 135 135 135
Russia 48 115 1194 1357 13 1 270 284 1641
Tajikistan 10 10 10
Ukraine 277 1 596 874 12 30 42 916
Uzbekistan 7 7 7
Western Europe
Austria 185 16 1160 1361 18 3 229 250 1611
Belgium 141 4 258 403 31 28 59 462
Cyprus 24 9 33 6 16 22 55
Denmark 18 47 1662 1727 1 27 166 194 1921
Finland 16 13 686 715 18 232 250 965
France 235 22 1475 1732 1036 1036 2768
Germany 278 872 9465 10615 31 1336 1367 11982
Greece 25 3 28 3 38 41 69
Iceland 17 10 53 80 2 20 22 102
Ireland 32 51 83 225 225 308
Italy 122 1 2762 2885 65 19 831 915 3800
Luxembourg 3 126 129 3 689 692 821
Malta 93 27 120 1 1 121
Netherlands 101 169 270 1 1451 1452 1722
Norway 11 47 681 739 297 297 1036
Portugal 27 1 135 163 1 82 83 246
Spain 85 31 262 378 4 5 370 379 757
Sweden 24 10 288 322 18 94 643 755 1077
Switzerland 40 177 836 1053 352 352 1405
United Kingdom 103 1 433 537 2 1 3338 3341 3878
Developed Markets (excl. Europe)
Australia 34 4 418 456 1 806 807 1263
Canada 71 134 509 714 9 91 740 840 1554
Guernsey 4 4 1 30 31 35
Japan 369 68 893 1330 9 462 471 1801
New Zealand 12 8 95 115 1 2 44 47 162
Jersey 4 4 1 7 8 12
USA 590 194 12839 13623 4085 4085 17708
Eastern Europe
Albania 135 135 3 3 138
Bosnia and Herzegovina 81 6 7 94 2 2 96
Bulgaria 25 2 61 88 7 5 12 100
Croatia 40 3 25 68 9 10 19 87
Czech Republic 41 2 155 198 6 1 59 66 264
Estonia 9 61 70 1 7 8 78
Hungary 157 2 189 348 15 20 35 383
Latvia 11 78 89 9 6 15 104
Lithuania 105 11 116 11 2 13 129
Macedonia 150 150 3 3 153
Montenegro 10 1 11 4 4 15
Poland 262 81 715 1058 49 1 34 84 1142
Romania 38 39 8 85 12 5 17 102
Serbia 102 10 112 5 5 117
Slovakia 17 156 173 11 6 17 190
Slovenia 28 28 56 12 8 20 76
Turkey 51 430 481 35 100 135 616
Asia (excl. Japan)
Bangladesh 349 349 1 1 350
China 224 3 221 448 40 1 774 815 1263
Fiji 1 1 1
Hong Kong 69 272 341 3 411 414 755
India 82 54 1486 1622 153 153 1775
Indonesia 75 616 691 36 60 96 787
Korea 46 20 66 7 505 512 578
Laos 1 1 1
Malaysia 85 8 93 5 1 93 99 192
Mongolia 25 25 6 3 9 34
Pakistan 6 6 6
Philippines 83 15 98 23 124 147 245
Singapore 22 358 380 218 218 598
Sri Lanka 2 2 9 6 15 17
Taiwan 114 31 145 42 42 187
Thailand 51 122 173 32 32 205
Vietnam 5 5 10 10
Latin America
Argentina 26 7 276 309 42 31 80 153 462
Aruba 3 3 3
Bahamas 4 1 5 5
Barbados 46 46 3 4 7 53
Belize 2 2 2
Bermuda 1 8 9 3 9 12 21
Bolivia 265 9 274 2 2 276
Brazil 53 9 62 24 2 284 310 372
Cayman Islands 20 20 1 39 40 60
Chile 37 137 174 10 122 132 306
Colombia 16 35 51 22 1 51 74 125
Costa Rica 60 3 208 271 6 8 14 285
Dominican Republic 71 207 278 19 6 25 303
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 49 4 53 2 9 11 64
Jamaica 33 3 36 10 10 20 56
Mexico 66 5 71 47 283 330 401
Nicaragua 10 10 2 2 12
Panama 5 584 589 13 23 36 625
Paraguay 29 17 303 349 4 6 10 359
Peru 19 286 305 15 77 92 397
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 75 18 93 18 42 60 153
Middle East
Bahrain 11 2 13 7 12 19 32
Iraq 1 1 1
Israel 31 587 618 33 40 73 691
Kuwait 35 12 47 13 13 60
Lebanon 245 245 35 2 37 282
Oman 11 12 23 3 8 11 34
Qatar 50 1 51 12 67 79 130
Saudi Arabia 3 14 17 27 27 44
United Arab Emirates 6 6 12 6 238 256 262
Africa
Angola 246 246 2 2 248
Benin 12 12 12
Burundi 10 10 1 1 11
Chad 6 6 6
Cote d`Ivoire 27 27 3 62 65 92
Egypt 101 29 130 3 3 6 136
Ethiopia 1 1 1
Gabon 5 5 3 3 8
Ghana 105 10 115 4 4 119
Guinea-Bissau 1 1 1
Kenya 70 28 98 2 2 100
Mauritius 106 6 112 1 1 113
Morocco 57 116 173 5 4 9 182
Mozambique 1 1 1
Namibia 16 21 37 2 4 6 43
Niger 8 8 8
Nigeria 18 18 3 14 17 35
Congo 1 1 1
Rwanda 10 10 1 1 11
Senegal 29 29 2 2 31
Seychelles 1 1 1
South Africa 29 17 436 482 13 76 89 571
Tanzania 131 131 1 1 132
Togo 17 17 1 1 18
Tunisia 19 19 15 15 34
Zambia 126 126 3 3 129
* the number of issues in Cbonds database (outstanding)