Issuing Countries
Countries needing to borrow generally do not do so publicly unless the borrowing is sufficiently large to justify the costs involved. As a result, most small and poor countries are not actually counted as belonging in the EMD universe. Countries currently listed as EMD issuers include
- Argentina
- Brazil
- Bulgaria
- Chile
- China
- Colombia
- Cote d'Ivoire
- Dominican Republic
- Ecuador
- Egypt
- El Salvador
- Fiji
- Ghana
- Hungary
- Indonesia
- Iraq
- Lebanon
- Malaysia
- Mexico
- Morocco
- Nigeria
- Pakistan
- Panama
- Peru
- Philippines
- Russia
- Serbia
- Seychelles
- South Africa
- Tunisia
- Turkey
- Ukraine
- Uruguay
- Venezuela
- Vietnam
A handful of countries have stopped issuing debt considered to be 'EMD' due to lesser borrowing needs, improved credit quality, or becoming increasingly developed. These include the Czech Republic, India, Kazakhstan, Poland, South Korea and Thailand, among others.
Read more about this topic: Emerging Market Debt
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“In some things, we Americans leave to other countries the carrying out of the principle that stands at the head of our Declaration of Independence.”
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