Emerging-market economies are at much greater risk of debt distress
Sovereign debt in default ($bn)
Advanced
economies
Emerging-
market and frontier economies
Heavily
indebted poor countries
Other
developing countries
0
200
400
1976
1978
1980
1982
1984
1986
1988
1990
1992
1994
1996
1998
2000
2002
2004
2006
2008
2010
2012
2014
2016
2018
2020
0
2
1
1
0
2
2
1
0
8
2
1
0
6
4
1
0
7
6
2
0
5
6
1
0
10
5
2
0
40
8
3
0
97
8
5
0
101
9
8
0
140
13
13
0
213
14
20
0
318
20
24
0
247
22
31
0
291
30
36
0
381
32
37
0
247
33
44
0
189
37
40
0
235
40
42
0
219
49
55
0
116
50
70
0
150
45
62
0
114
45
54
0
146
43
53
0
233
29
54
0
171
32
54
0
134
35
57
0
264
47
53
0
279
41
60
0
273
49
63
0
270
41
78
0
151
49
62
0
110
30
66
0
100
30
82
0
96
22
79
0
87
28
96
0
60
18
95
31
68
20
107
36
68
12
87
0
111
12
115
0
110
15
82
3
122
15
90
5
91
24
79
16
122
25
87
5
137
24
85
6
268
29
94
6
186
35
94
GlobalData
