A capitalization-weighted index of debt instruments from 13 emerging markets. The index consists of external currency denominated Brady bonds, loans, Eurobonds and US dollar local debt instruments. Argentina, Brazil and Chile have the largest markets for these securities and debt from these countries accounts for a proportionally large amount of the total value of the index. Bonds and loans from Bulgaria, Ecuador, Morocco, Nigeria, Panama, Peru, the Philippines, Poland, Russia and Venezuela account for the balance of the index's constituency. The returns presented for this index are total returns including the reinvestment of dividends.