WASHINGTON, D.C., Oct. 9, -- The International Finance Corporation (IFC) announced today two significant ventures to increase investor access to information on emerging stock markets and deliver information faster. · IFC's EMDB Indexes will be available on a daily basis · IFC to invest in Moody's Emerging Markets Service LLC (MEMS) - IFC's EMDB Indexes Now Daily - IFC announced a major development in its Emerging Market Data Base (EMDB) Group. The IFC stock market indexes will be calculated on a daily basis and distributed worldwide by Reuters. Previously, IFC stock market data was available only on a weekly basis. "IFC has been a pioneer in collecting data on emerging stock markets. Since 1981 EMDB has provided unbiased, transparent information to the investor community. In light of the greater acceptance of emerging stock markets in investor portfolios and in response to investor demand, IFC is now providing its indexes on a daily basis," said Farida Khambata, Director of IFC's Central Capital Markets Depar
tment. "This important milestone for monitoring emerging stock markets is consistent with our efforts to push the developmental frontier and generate a wider interest in these markets," she said. IFC also announced that it has added the Czech Republic to the countries covered by EMDB. This brings the total number of countries covered by EMDB to 27. The Czech Republic country index is based on 65 stocks with an aggregate market capitalization of approximately US$10 billion. The addition of the Czech Republic brings the total number of stocks covered by EMDB to over 1,650 with a total market value of US$1.1 trillion. In addition, China is now included in EMDB's calculations of regional and composite indexes. China was added as a country index several months ago, but in line with EMDB's policy of phasing in full coverage of markets, it was included in the regional and composite indexes only this month. (More) Press Release No. 96/37 Page 2 of 2 - Moody's Emerging Markets Service LLC (MEMS) - In a joint venture w
ith Moody's Investors Service, IFC has approved an investment of US$1 million in Moody's Emerging Markets Service LLC (MEMS), a new company which, among other services, will provide on-line information on companies, industry sectors, and markets in developing countries. MEMS will provide subscribers with information and data from Consensus Economics, Dun & Bradstreet Information Services, the Economist Intelligence Unit, Interactive Data Corporation, Oxford Analytica, and the WEFA Group. IFC's EMDB information on stocks, indexes, and markets will also be available through MEMS. "Moody's Emerging Markets Service will fill a key information gap on emerging markets by providing a wide range of analytical commentary and information on emerging market companies," said Mr. Jemal-ud-din Kassum, Vice President for Operations at IFC. "We expect that this new company will help mobilize external portfolio investment flows to emerging markets by providing information to a wide audience of financial intermediaries, instit
utional investors, and corporations." IFC is a member of the World Bank Group and is the largest multilateral source of equity and loan financing for private sector projects in developing countries.
