http://emergingmarkets.blog.franklintempleton.com/2018/10/02/new-chapter-gcc-bond-emerging-market/ Historically, debt markets in Gulf Cooperation Council (GCC) countries have been unable to qualify for inclusion in emerging-market fixed income indexes, or any other major fixed income index. The qualities associated with GCC countries, such as higher per-capita income levels and investment-grade debt, tend to exceed the criteria for index inclusion, even though they possess characteristics on par with emerging markets.
