Gross external financing requirement (% of reserves)

Projected 2022-23 average GEFR as % of official reserve assets versus Bloomberg EM Sovereign Index spread

*Current account from April 2022 IMF WEO, official reserves from IMF IFS, and public amortizations from World Bank IDS; excludes Azerbaijan (-263.5%, 209), Belarus (45.4%, 5886), Sri Lanka (444.4%, 4196) and Zambia (17.3%, 2974)

Chart: Patrick Curran Source: Tellimer Research, IMF, World Bank Get the data