Global Emerging Markets Risk Database (GEMs)

Leveraging data from multilateral development banks and development finance institutions to support investment and development

The Global Emerging Markets Risk Database (GEMs) is the world’s largest credit risk database for emerging markets. It is a joint initiative of multilateral development banks (MDBs) and development finance institutions (DFIs) that pools credit risk data on their lending operations in Emerging Markets and Developing Economies (EMDEs) and provides the public, free of charge, with the related statistics.

The GEMs Consortium was created in 2009 on the initiative of the European Investment Bank (EIB) and the International Finance Corporation (IFC) and has evolved into a community of practice that develops common approaches and data methodologies to record default and recovery frequencies for the member MDBs and DFIs.

The GEMs database includes data from the member institutions, which are the world’s largest MDBs and DFIs.

Private Lending 1994-2024

Annual default rates and averages

figure 1 private default

Recovery rates by region

Figure 15 Private Recovery

Public Lending 1994-2024

Annual default rates and averages

figure 1 public default

Recovery rates by region 

Figure 12 Public Recovery

Sovereign and Sovereign-guaranteed Lending 1984-2024

Annual default rates and averages

Figure 4 Sovereign Default

Recovery rates by region

Figure 16 Sovereign Recovery