Global Emerging Markets Risk Database (GEMs)
Leveraging data from multilateral development banks and development finance institutions to support investment and development
Private Lending 1994-2023
Annual default rates and averages – private counterparts

Recovery rates by region – private lending

Public Lending 1994-2023
Annual default rates and averages – public counterparts

Sovereign and Sovereign-guaranteed Lending 1984-2023
Distribution of recovery rates (percentage of all defaults)

Annual default rates and averages, by ten-year period

GEMs Engages Galytix/PwC to Develop New Credit Risk Platform
Luxembourg, 25 September 2025—The Global Emerging Markets Risk Database (GEMs) Consortium today announced a major step forward in its mission to contribute to unlocking private investment in emerging markets and developing economies (EMDEs) with the appointment of a...