Global Emerging Markets
Risk Database Consortium
Leveraging data from Multilateral Development Banks and Development Finance Institutions to support investment and development
IN THE SPOTLIGHT
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PRESS RELEASE
GEMs recovery statistics 1994-2022 available online for the first time
Luxembourg, 25 March 2024 — The Global Emerging Markets Risk Database (GEMs) Consortium has published today for the first time the recovery rates of investments with private and sub-sovereign borrowers in emerging markets and developing economies (EMDEs) for the period 1994-2022. The statistics are collected from the group of 19 multilateral development banks and development finance institutions that are members of the GEMs Consortium and are available online for free on the GEMs website (gemsriskdatabase.org).
The new report is the result of the consortium’s continued effort and commitment to provide, to a wider audience, statistics based on the GEMs database to support investments in emerging markets and complements the well-received default statistics reports published in the fourth quarter of 2023, also available on the GEMs website. Going forward, GEMs will publish default and recovery statistics on a regular basis. GEMs is working with all members of the consortium to publish additional statistics that could provide information and confidence to the private sector for investing in emerging markets.
Nadia Calviño, President of the European Investment Bank, which hosts the GEMs Secretariat in Luxembourg said: “The GEMs Consortium, co-founded by the EIB and the World Bank Group, is an example of how we can have a far greater impact when we work together. The publication today and sharing of information with public and private sector partners is a direct response to the call by the G20 for International Financial Institutions to support reform of the financial system by sharing data and expertise more widely. I’m hopeful that this first important step will help us all to drive transformative investments in emerging markets and developing economies.”
The availability of the GEMs statistics will provide deeper insights into markets where it is difficult to find reliable credit information. They will also help to support the mobilisation of private investments in emerging markets, addressing one of the key recommendations of the G20. The GEMs Consortium will continue working on further methodological refinements and data enrichment to provide in the near future an even wider range of statistics and details.
FAQs
ABOUT US
GEMs was established in 2009 as a joint initiative between the European Investment Bank (EIB) and the International Finance Corporation (IFC – World Bank Group). Since then, the GEMs consortium has grown to include all major MDBs and DFIs worldwide.
The Consortium members contribute anonymized data on their projects’ credit events notably in emerging markets and developing economies. In return, members gain access to aggregate GEMs statistics on observed default rates, rating migration matrixes and recovery rates by geography, sector, time-period and various other dimensions.
GEMs statistics thus provide members with an insight into geographies that are otherwise relatively poorly served in terms of empirical credit information.
Institutions
Years of data
Counterparts
Contracts
OUR GUIDING PRINCIPLES
Cooperation
Confidentiality
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DATA COLLECTION AND REPORTING
Steering Committee
The Steering Committee, co-chaired by the European Investment Bank Group and the World Bank Group, represents the interests of the members and defines the strategic and operational priorities. Additionally, the Steering Committee decides on the admission of any additional member institutions into the consortium. The Steering Committee currently is comprised of seven multilateral development banks: European Investment Bank (EIB), International Finance Corporation (IFC), International Bank for Reconstruction and Development (IBRD), African Development Bank (AfDB), Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD) and Inter-American Development Bank (IDB).
Román Escolano
Lakshmi Shyam-Sunder
Federico Galizia
Rachel Robboy
Inter-American Investment Corporation
David Coleman
Stephen O'Leary
Ifedayo Orimoloye
SECRETARIAT
GEMs Secretariat
Gregor Cigüt
GEMs Secretary General (act.)
Maria Katrantzi
GEMs Secretariat
Frank Sperling
GEMs Secretariat
Amine Amesrouh
GEMs Secretariat
Pierre-Alexandre Robert
GEMs Secretariat
Membership
Membership eligibility criteria
– Entities within or funded by the public sector (such as MDBs) which have as their role and function the financing and development of emerging markets and are International Financial Institutions established by treaty.
If you’d like to inquire about the membership, please contact the GEMs Secretariat via the form below. The final decision on applications for membership will be made by the GEMs Steering Committee.
You are an eligible institution? Why should you join GEMs?
To have access to the GEMs database webtool
To receive the GEMs Annual Report
To benefit from the GEMs User Guide
To receive guidance on data and methodology
To Network and stay up-to-date
Default statistics publications
Private and sub sovereign publication key figures on dataset composition
Distribution of counterparties
%
Non - OECD countries
%
Infrastructure sectors group
- High income countries 15%
- Upper-middle income countries 6%
- Lower-middle income countries 35%
- Low income countires 44%
Sovereign and sovereign guaranteed publication key figures on dataset composition
Distribution of sovereign counterparties
%
Non - OECD countries
Number of sovereign
Number of default events
- High income countries 25%
- Upper-middle income countries 29%
- Lower-middle income countries 30%
- Low income countires 15%
Recovery Statistics Publication
Recovery statistics publication key figures
%
Recovery rate of private counterparts
%
Recovery rate of public counterparts
Master Scale
Disclaimer
Neither GEMs nor any GEMs consortium member or their respective constituents represents or warrants as to the accuracy, reliability or completeness of the content included in this work, or for the conclusions or judgments described herein. Moreover, neither GEMs nor any of its members shall have any responsibility or liability whatsoever to any recipient or to any other party in connection with or arising in any way from such content, conclusions or judgments, or for any omissions or errors (including, without limitation, typographical errors and technical errors) included therein or for reliance thereon. Neither GEMs nor any GEMs consortium member or their respective constituents has an obligation to independently verify the information upon which the work is based, or to update the work for any reason including in the event of changes in that underlying information.
The contents of this work are intended for general informational purposes only. This work and its contents shall not constitute and should not be construed as an offer, a guarantee, an opinion regarding the appropriateness of any investment, or a solicitation or invitation of any type. This work and its contents are not intended to provide, and should not be relied on as providing, financial, accounting, legal, securities, investment or any other type of advice.
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