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This paper proposes an approach to track US1 trillion of emerging market government debt held byforeign investors in local and hard currency, based on a similar approach that was used for advancedeconomies (Arslanalp and Tsuda, 2012). The estimates are constructed on a quarterly basis from 2004to mid-2013 and are available along with the paper in an online dataset. We estimate that about half atrillion dollars of foreign flows went into emerging market government debt during 2010a ??12, mostlycoming from foreign asset managers. Foreign central bank holdings have risen as