GEMs default statistics publication on sovereign and sovereign guaranteed lending 1984-2023

The publication discusses the default rates and, for the first time, recovery rates for sovereign and sovereign-guaranteed lending, based on an extended dataset covering 40 years. The findings reveal an average annual default rate of 1.06% and an average recovery rate of 94.9%. These results complement the GEMs statistics on private and public counterparts, offering a more complete perspective on credit risks in EMDEs.