About this work
Equity withdrawals tipped emerging market portfolio flows into negative territory in November. The December release estimates net outflows of $3.9 billion, as $15 billion of debt inflows could not offset $18.9 billion leaving equities. Gulf credit remained a relative bright spot, combining tight spreads with firm demand despite the broader reversal.
Cite this work
Jonathan Fortun (2025). IIF Capital Flows Tracker: December 2025. Institute of International Finance.