Western Asset Emerging Markets Debt Fund Inc.

Schedule of Investments (unaudited)

July 31, 2008

Face Amount†				Security		Value
SOVEREIGN BONDS — 42.9%
Argentina — 3.5%
					Republic of Argentina:
2,000,000	EUR				9.250% due 10/21/02 (a)	$	888,716
5,000,000	DEM				10.250% due 2/6/03 (a)	1,220,683
1,425,000	EUR				9.000% due 6/20/03 (a)	652,651
1,000,000	EUR				9.500% due 3/4/04 (a)	471,643
5,000,000	DEM				7.000% due 3/18/04 (a)	1,175,842
2,000,000	EUR				8.500% due 7/1/04 (a)	912,103
2,000,000	EUR				10.000% due 1/7/05 (a)	958,877
1,000,000	EUR				8.000% due 2/26/08 (a)	465,796
3,200,000	ARS				8.125% due 4/21/08 (a)	1,478,074
1,200,000	EUR				9.000% due 7/6/10 (a)	544,923
7,097,000					Bonds, 7.000% due 9/12/13	5,249,611
					GDP Linked Securities:
4,825,000	EUR				1.262% due 12/15/35 (b)	590,548
4,205,000					1.318% due 12/15/35 (b)	407,885
27,105,123	ARS				1.383% due 12/15/35 (b)	784,070
					Medium-Term Notes:
525,000	EUR				8.750% due 2/4/03 (a)	247,612
5,000,000,000	ITL				7.000% due 3/18/04 (a)	1,187,720
2,000,000	EUR				7.000% due 3/18/04 (a)	919,899
1,000,000	EUR				9.250% due 7/20/04 (a)	454,102
2,000,000	EUR				8.125% due 10/4/04 (a)	888,716
					Total Argentina	19,499,471

Brazil — 9.4%
				Brazil Nota do Tesouro Nacional:
1,000	BRL			10.000% due 1/1/10		601
52,478,000	BRL			10.000% due 7/1/10		31,028,022
11,849,000	BRL			10.000% due 1/1/12		6,762,824
9,333,000	BRL			6.000% due 5/15/17		9,526,409
5,146,000				Federative Republic of Brazil, 7.125% due 1/20/37		5,686,330
				Total Brazil		53,004,186

Colombia — 2.9%
				Republic of Colombia:
2,465,000				7.375% due 1/27/17		2,705,337
12,609,000				7.375% due 9/18/37		13,806,855
				Total Colombia		16,512,192

Ecuador — 1.3%
7,877,000			Republic of Ecuador, 10.000% due 8/15/30 (c)			7,286,225

Egypt — 0.6%
19,840,000	EGP		Arab Republic of Egypt, 8.750% due 7/18/12 (c)			3,475,948

Gabon — 0.5%
2,980,000		Gabonese Republic, 8.200% due 12/12/17 (c)				3,047,050

Indonesia — 2.4%
		Republic of Indonesia:
45,120,000,000	IDR	10.250% due 7/15/22				4,280,874
35,693,000,000	IDR	11.000% due 9/15/25				3,493,581
28,628,000,000	IDR	10.250% due 7/15/27				2,615,114
34,122,000,000	IDR	9.750% due 5/15/37				2,902,951
		Total Indonesia				13,292,520

See Notes to Schedule of Investments.

Western Asset Emerging Markets Debt Fund Inc.

Schedule of Investments (unaudited) (continued)

July 31, 2008

Face Amount†	Security	Value
Mexico — 3.6%
	United Mexican States, Medium-Term Notes:
3,774,000	5.625% due 1/15/17	$	3,815,514
7,730,000	8.000% due 9/24/22	9,333,975
7,210,000	6.050% due 1/11/40	6,957,650
	Total Mexico	20,107,139

Panama — 4.2%
	Republic of Panama:
2,848,000	7.250% due 3/15/15	3,082,960
6,090,000	9.375% due 4/1/29	7,999,215
12,426,000	6.700% due 1/26/36	12,705,585
	Total Panama	23,787,760

Peru — 1.5%
	Republic of Peru:
4,402,000	8.750% due 11/21/33	5,744,610
2,846,000	Bonds, 6.550% due 3/14/37	2,955,571
	Total Peru	8,700,181

Russia — 0.5%
	Russian Federation:
105,000	11.000% due 7/24/18 (c)	147,499
1,595,000	12.750% due 6/24/28 (c)	2,833,524
	Total Russia	2,981,023

Turkey — 7.4%
	Republic of Turkey:
8,530,000	11.875% due 1/15/30 (d)	12,858,975
31,399,000	Notes, 6.875% due 3/17/36	29,004,826
	Total Turkey	41,863,801

Venezuela — 5.1%
	Bolivarian Republic of Venezuela:
1,959,000	8.500% due 10/8/14	1,807,178
16,913,000	5.750% due 2/26/16	12,853,880
1,674,000	7.650% due 4/21/25	1,281,447
	Collective Action Securities:
10,661,000	9.375% due 1/13/34	9,184,451
3,850,000	Notes, 10.750% due 9/19/13	3,955,875
	Total Venezuela	29,082,831

	TOTAL SOVEREIGN BONDS (Cost — $239,341,890)	242,640,327

CORPORATE BONDS & NOTES — 43.2%
Brazil — 5.0%
3,423,000	Globo Communicacoes e Participacoes SA, Bonds, 7.250% due 4/26/22 (c)	3,363,098
	GTL Trade Finance Inc.:
1,630,000	7.250% due 10/20/17 (c)	1,623,905
2,910,000	7.250% due 10/20/17 (c)	2,902,603
2,640,000	Odebrecht Finance Ltd., 7.500% due 10/18/17 (c)	2,673,000
	Vale Overseas Ltd., Notes:
3,289,000	8.250% due 1/17/34	3,637,312
14,650,000	6.875% due 11/21/36	14,071,105
	Total Brazil	28,271,023

See Notes to Schedule of Investments.

Western Asset Emerging Markets Debt Fund Inc.

Schedule of Investments (unaudited) (continued)

July 31, 2008

Face Amount†		Security	Value
Chile — 0.7%
3,678,000		Enersis SA, Notes, 7.375% due 1/15/14	$	3,917,125

Colombia — 0.3%
1,650,000		EEB International Ltd., Senior Bonds, 8.750% due 10/31/14 (c)	1,757,250

India — 0.2%
		ICICI Bank Ltd., Subordinated Bonds:
820,000		6.375% due 4/30/22 (b)(c)	695,417
626,000		6.375% due 4/30/22 (b)(c)	533,118
		Total India	1,228,535

Kazakhstan — 1.6%
3,540,000		ATF Capital BV, Senior Notes, 9.250% due 2/21/14 (c)	3,531,150
		HSBK Europe BV:
320,000		9.250% due 10/16/13 (c)	312,000
2,780,000		7.250% due 5/3/17 (c)	2,349,100
		TuranAlem Finance BV, Bonds:
2,850,000		8.250% due 1/22/37 (c)	2,187,375
520,000		8.250% due 1/22/37 (c)	403,650
		Total Kazakhstan	8,783,275

Mexico — 7.8%
4,190,000		America Movil SAB de CV, 5.625% due 11/15/17	4,010,957
		Axtel SAB de CV:
311,000		11.000% due 12/15/13	330,437
120,000		7.625% due 2/1/17 (c)	120,600
13,660,000		Senior Notes, 7.625% due 2/1/17 (c)	13,694,150
340,000		Grupo Transportacion Ferroviaria Mexicana SA de CV, Senior Notes, 9.375% due 5/1/12	352,750
26,211,000		Pemex Project Funding Master Trust, Senior Bonds, 6.625% due 6/15/35	25,757,576
		Total Mexico	44,266,470

Russia — 16.4%
		Evraz Group SA, Notes:
6,650,000		8.875% due 4/24/13 (c)	6,500,375
2,790,000		9.500% due 4/24/18 (c)	2,702,952
		Gaz Capital SA:
4,410,000		Medium Term Notes, 7.288% due 8/16/37 (c)	3,924,900
9,310,000		Notes, 8.625% due 4/28/34 (c)(d)	10,008,250
		Gazprom:
		Bonds:
343,825,000	RUB	6.790% due 10/29/09	14,625,717
114,575,000	RUB	7.000% due 10/27/11	4,813,952
1,810,000		Loan Participation Notes, 6.212% due 11/22/16 (c)	1,673,707
162,014,000	RUB	Gazprom OAO, 6.950% due 8/6/09	6,887,765
		LUKOIL International Finance BV:
1,090,000		6.356% due 6/7/17 (c)	978,275
8,122,000		6.656% due 6/7/22 (c)	7,045,835
4,630,000		RSHB Capital, Notes, 7.125% due 1/14/14 (c)	4,587,867
		Russian Agricultural Bank, Loan Participation Notes:
4,230,000		7.175% due 5/16/13 (c)	4,204,197
9,648,000		6.299% due 5/15/17 (c)	8,699,602
		TNK-BP Finance SA:
5,580,000		7.500% due 7/18/16 (c)	5,077,800
2,593,000		6.625% due 3/20/17 (c)	2,204,050
3,010,000		Senior Notes, 7.875% due 3/13/18 (c)	2,799,300

See Notes to Schedule of Investments.

Western Asset Emerging Markets Debt Fund Inc.

Schedule of Investments (unaudited) (continued)

July 31, 2008

Face Amount†		Security	Value
Russia — 16.4% (continued)
3,414,000		UBS Luxembourg SA for OJSC Vimpel Communications, Loan Participation Notes, 8.250% due 5/23/16 (c)	$	3,268,905
2,870,000		Vimpel Communications, Loan Participation Notes, 8.375% due 4/30/13 (c)	2,812,350
		Total Russia	92,815,799

Thailand — 1.7%
		True Move Co., Ltd.:
140,000		10.750% due 12/16/13 (c)(e)	111,298
6,930,000		10.750% due 12/16/13 (c)(e)	5,855,850
4,240,000		10.375% due 8/1/14 (c)	3,413,200
		Total Thailand	9,380,348

United Kingdom — 4.7%
80,801,000	RUB	HSBC Bank PLC, Credit-Linked Notes (Russian Agricultural Bank), 8.900% due 12/20/10 (b)(c)	3,624,113
337,631,000	RUB	JPMorgan Chase Bank, Credit-Linked Notes (Russian Agricultural Bank), 9.500% due 2/11/11 (b)(c)(e)	14,418,403
8,450,000		Vedanta Resources PLC, Senior Notes, 8.750% due 1/15/14 (c)	8,492,250
		Total United Kingdom	26,534,766

United States — 1.6%
411,000		Freeport-McMoRan Copper & Gold Inc., Senior Notes, 8.375% due 4/1/17	431,186
8,390,000		KazMunaiGaz Finance Sub B.V., 8.375% due 7/2/13 (c)	8,589,263
		Total United States	9,020,449

Venezuela — 3.2%
		Petrozuata Finance Inc.:
16,972,693		8.220% due 4/1/17 (c)	17,711,005
501,032		8.220% due 4/1/17 (c)	524,079
		Total Venezuela	18,235,084

		TOTAL CORPORATE BONDS & NOTES (Cost — $249,140,630)	244,210,124

COLLATERALIZED SENIOR LOANS — 0.5%
United States — 0.5%
		Ashmore Energy International:
310,234		Synthetic Revolving Credit Facility, 5.496% due 3/30/12 (b)	285,415
2,828,152		Term Loan, 5.801% due 3/30/14 (b)	2,601,900

		TOTAL COLLATERALIZED SENIOR LOANS (Cost — $2,817,822)	2,887,315

Warrants
WARRANTS — 0.1%
11,745	Bolivarian Republic of Venezuela, Oil-linked payment obligations, Expires 4/15/20 (Cost - $364,095)	419,884
	TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS (Cost — $491,664,437)	490,157,650

Face Amount†
SHORT-TERM INVESTMENTS — 13.3%
Sovereign Bonds — 10.0%
		Bank Negara Malaysia Islamic Notes:
2,272,000	MYR	Zero coupon bond to yield 3.310% due 8/21/08	696,527
1,848,000	MYR	Zero coupon bond to yield 3.270% due 9/16/08	565,185
23,031,000	MYR	Zero coupon bond to yield 3.490% due 9/23/08	7,033,684
1,340,000	MYR	Zero coupon bond to yield 3.200% due 9/25/08	409,539

See Notes to Schedule of Investments.

Western Asset Emerging Markets Debt Fund Inc.

Schedule of Investments (unaudited) (continued)

July 31, 2008

Face Amount†		Security	Value
Sovereign Bonds — 10.0% (continued)
8,855,000	MYR	Zero coupon bond to yield 3.340% due 11/27/08	$	2,690,157
		Bank Negara Malaysia Monetary Notes:
15,111,000	MYR	Zero coupon bond to yield 3.388% due 8/7/08	4,637,540
8,132,000	MYR	Zero coupon bond to yield 3.264% due 8/14/08	2,494,417
6,654,000	MYR	Zero coupon bond to yield 2.598% due 8/28/08	2,038,501
2,218,000	MYR	Zero coupon bond to yield 2.598% due 8/28/08	679,495
2,841,000	MYR	Zero coupon bond to yield 3.300% due 10/21/08	866,054
428,000	MYR	Zero coupon bond to yield 3.440% due 11/13/08	130,221
11,675,000	BRL	Brazil Letras Tesouro Nacional, zero coupon bond to yield 11.300% due 1/1/09	7,052,848
		Egypt Treasury Bills:
122,000,000	EGP	Zero coupon bond to yield 7.200% due 10/28/08 (e)	22,437,244
27,275,000	EGP	Zero coupon bond to yield 6.500% due 11/11/08 (e)	4,993,844

		Total Sovereign Bonds (Cost — $55,177,454)	56,725,256

U.S. Government Agency — 0.0%
43,000		Federal National Mortgage Association (FNMA), Discount Notes, 1.691% due 12/15/08 (f) (Cost - $42,729)	42,598

Repurchase Agreement — 3.3%
18,560,000		Morgan Stanley tri-party repurchase agreement dated 7/31/08, 2.130% due 8/1/08; Proceeds at maturity - $18,561,098; (Fully collateralized by various U.S. government agency obligations 0.000% due 10/15/19 to 10/15/20; Market value - $19,027,945) (Cost - $18,560,000)	18,560,000

		TOTAL SHORT-TERM INVESTMENTS (Cost — $73,780,183)	75,327,854
		TOTAL INVESTMENTS — 100.0% (Cost — $565,444,620#)	$	565,485,504

†		Face amount denominated in U.S. dollars, unless otherwise noted.
(a)		Security is currently in default.
(b)		Variable rate security. Interest rate disclosed is that which is in effect at July 31, 2008.
(c)		Security is exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions that are exempt from registration, normally to qualified institutional buyers. This security has been deemed liquid pursuant to guidelines approved by the Board of Directors, unless otherwise noted.
(d)		All or a portion of this security is held by the counterparty as collateral for open reverse repurchase agreements.
(e)		Security is valued in good faith at fair value by or under the direction of the Board of Directors (See Note 1).
(f)		Rate shown represents yield-to-maturity.
#		Aggregate cost for federal income tax purposes is substantially the same.

		Abbreviations used in this schedule:

		ARS - Argentine Peso
		BRL - Brazilian Real
		DEM - German Mark
		EGP - Egyptian Pound
		EUR - Euro
		GDP - Gross Domestic Product
		IDR - Indonesian Rupiah
		ITL - Italian Lira
		MYR - Malaysian Ringgit
		OJSC - Open Joint Stock Company
		RUB - Russian Ruble

See Notes to Schedule of Investments.

Notes to Schedule of Investments (unaudited)

1. Organization and Significant Accounting Policies

Western Asset Emerging Markets Debt Fund Inc. (the “Fund”) was incorporated in Maryland on April 16, 2003 and is registered as a non-diversified, closed-end management investment company under the Investment Company Act of 1940, as amended (the “1940 Act”). The Board of Directors authorized 100 million shares of $0.001 par value common stock. The Fund’s primary investment objective is total return. High current income is a secondary investment objective.

The following are significant accounting policies consistently followed by the Fund and are in conformity with U.S. generally accepted accounting principles (“GAAP”).

(a) Investment Valuation. Debt securities are valued at the mean between the last quoted bid and asked prices provided by an independent pricing service that are based on transactions in debt obligations, quotations from bond dealers, market transactions in comparable securities and various other relationships between securities. Publicly traded foreign government debt securities are typically traded internationally in the over-the-counter market, and are valued at the mean between the last quoted bid and asked prices as of the close of business of that market. Equity securities for which market quotations are available are valued at the last reported sales price or official closing price on the primary market or exchange on which they trade. When prices are not readily available, or are determined not to reflect fair value, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the Fund calculates its net asset value, the Fund may value these securities at fair value as determined in accordance with the procedures approved by the Fund’s Board of Directors. Short-term obligations with maturities of 60 days or less are valued at amortized cost, which approximates fair value.

(b) Repurchase Agreements. When entering into repurchase agreements, it is the Fund’s policy that its custodian or a third party custodian take possession of the underlying collateral securities, the market value of which, at all times, at least equals the principal amount of the repurchase transaction, including accrued interest. To the extent that any repurchase transaction exceeds one business day, the value of the collateral is marked-to-market to ensure the adequacy of the collateral. If the seller defaults, and the market value of the collateral declines or if bankruptcy proceedings are commenced with respect to the seller of the security, realization of the collateral by the Fund may be delayed or limited.

(c) Reverse Repurchase Agreements. The Fund may enter into a reverse repurchase agreement in which the Fund sells a portfolio security at a specified price with an agreement to purchase the same or substantially the same security from the same counterparty at a fixed or determinable price at a future date. When entering into reverse repurchase agreements, the Fund’s custodian delivers to the counterparty liquid assets, the market value of which, at the inception of the transaction, at least equals the repurchase price (including accrued interest). The Fund pays interest on amounts obtained pursuant to reverse repurchase agreements. Reverse repurchase agreements are considered to be borrowings, which may create leverage risk to the Fund.

(d) Forward Foreign Currency Contracts. The Fund may enter into a forward foreign currency contract to hedge against foreign currency exchange rate risk on its non-U.S. dollar denominated securities or to facilitate settlement of a foreign currency denominated portfolio transaction. A forward foreign currency contract is an agreement between two parties to buy and sell a currency at a set price with delivery and settlement at a future date. The contract is marked-to-market daily and the change in value is recorded by the Fund as an unrealized gain or loss. When a forward foreign currency contract is closed, through either delivery or offset by entering into another forward foreign currency contract, the Fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value of the contract at the time it was closed.

The Fund bears the risk of an unfavorable change in the foreign exchange rate underlying the forward foreign currency contract. Risks may also arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of their contracts.

(e) Credit Default Swaps. The Fund may enter into credit default swap (“CDS”) contracts for investment purposes, to manage its credit risk or to add leverage. CDS agreements involve one party making a stream of payments to another party in exchange for the right to receive a specified return in the event of a default by a third party, typically corporate issuers or sovereign issuers of an emerging country, on a specified obligation. The Fund may use a CDS to provide a measure of protection against defaults of the issuers (i.e., to reduce risk where a Fund has exposure to the sovereign issuer) or to take an active long or short position with respect to the likelihood of a particular issuer’s default. As a seller of protection, the Fund generally receives an upfront payment or a fixed

Notes to Schedule of Investments (unaudited) (continued)

rate of income throughout the term of the swap provided that there is no credit event. If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will pay to the buyer of the protection an amount up to the notional value of the swap, and in certain instances take delivery of the security. As the seller, the Fund would effectively add leverage to its portfolio because, in addition to its total net assets, the Fund would be subject to investment exposure on the notional amount of the swap. As a buyer of protection, the Fund generally receives an amount up to the notional value of the swap if a credit event occurs.

(f) Credit and Market Risk. The Fund invests in high yield and emerging market instruments that are subject to certain credit and market risks. The yields of high yield and emerging market debt obligations reflect, among other things, perceived credit and market risks. The Fund’s investment in securities rated below investment grade typically involves risks not associated with higher rated securities including, among others, greater risk related to timely and ultimate payment of interest and principal, greater market price volatility and less liquid secondary market trading. The consequences of political, social, economic or diplomatic changes may have disruptive effects on the market prices of investments held by the Fund. The Fund’s investment in non-U.S. dollar denominated securities may also result in foreign currency losses caused by devaluations and exchange rate fluctuations.

(g) Foreign Currency Translation. Investment securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts based upon prevailing exchange rates at the date of valuation. Purchases and sales of investment securities and income and expense items denominated in foreign currencies are translated into U.S. dollar amounts based upon prevailing exchange rates on the respective dates of such transactions.

Foreign security and currency transactions may involve certain considerations and risks not typically associated with those of U.S. dollar denominated transactions as a result of, among other factors, the possibility of lower levels of governmental supervision and regulation of foreign securities markets and the possibility of political or economic instability.

(h) Other Risks. Consistent with its objective to seek high current income, the Fund may invest in instruments whose values and interest rates are linked to foreign currencies, interest rates, indices or some other financial indicator. The value at maturity or interest rates for these instruments will increase or decrease according to the change in the indicator to which they are indexed. These securities are generally more volatile in nature, and the risk of loss of principal is greater.

(i) Security Transactions. Security transactions are accounted for on a trade date basis.

2. Investments

At July 31, 2008, the aggregate gross unrealized appreciation and depreciation of investments for federal income tax purposes were substantially as follows:

Gross unrealized appreciation	$	24,811,985
Gross unrealized depreciation	(24,771,101)
Net unrealized appreciation	$	40,884

At July 31, 2008, the Fund had the following open reverse repurchase agreements:

Face
Amount		Security	Value
$	9,319,310	Reverse Repurchase Agreement with JPMorgan Chase & Co.,dated
		6/30/08 bearing 2.250% to be repurchased at $9,365,907 on 9/18/08
		collateralized by: $9,310,000 Gaz Capital SA, Notes, 8.625% due
		4/28/34; Market value (including accrued interest) $10,216,676	$	9,319,310
11,323,575		Reverse Repurchase Agreement with Credit Suisse,
		dated 7/31/08 bearing 2.000% to be repurchased at $11,326,091 on
		8/4/08, collateralized by: $8,530,000 Republic of Turkey,
		11.875% due 1/15/30; Market value (including accrued interest) $12,905,768	11,323,575
		Total Reverse Repurchase Agreements
		(Proceeds — $20,642,885)	$	20,642,885

Notes to Schedule of Investments (unaudited) (continued)

Transactions in reverse repurchase agreements for the Fund during the period ended July 31, 2008 were as follows:

Average	Weighted	Maximum
Daily	Average	Amount
Balance *	Interest Rate*	Outstanding
$26,882,285	2.691%	$28,870,410

* Average based on number of days that the Fund had reverse repurchase agreements outstanding.

Interest rates on reverse repurchase agreements ranged from 0.350% to 4.750% during the period ended July 31, 2008. Interest expense incurred on reverse repurchase agreements totaled $550,631.

At July 31, 2008, the Fund had the following open forward foreign currency contracts:

Foreign Currency	Local Currency	Market Value	Settlement Date	Unrealized Gain
Contracts to Buy:
Indian Rupee	86,213,400	$2,008,111	9/16/08	$20,253
Indian Rupee	72,057,650	1,678,391	9/16/08	2,242
Indian Rupee	57,220,000	1,332,787	9/16/08	12,529
Net Unrealized Gain on Open Forward Foreign Currency Contracts				$35,024

At July 31, 2008, the Fund held the following open credit default swap contract:

SWAP COUNTERPARTY (REFERENCE ENTITY)	NOTIONAL AMOUNT	TERMINATION DATE	PAYMENTS MADE BY THE FUND	PAYMENTS RECEIVED BY THE FUND	UNREALIZED DEPRECIATION

Morgan Stanley & Co. Inc. (TuranAlem Finance BV)	$5,680,000	10/29/08	(a)	7.500 % quarterly	$(14,729	)

(a) As a seller of protection, the Fund will pay an amount up to the notional value of the swap, and in certain instances take delivery of the security if a credit event occurs.

3. Recent Accounting Pronouncements

On September 20, 2006, the Financial Accounting Standards Board (“FASB”) released Statement of Financial Accounting Standards No. 157, Fair Value Measurements (“FAS 157”). FAS 157 establishes an authoritative definition of fair value, sets out a framework for measuring fair value, and requires additional disclosures about fair value measurements. The application of FAS 157 is required for fiscal years beginning after November 15, 2007 and interim periods within those fiscal years. Management has determined that there is no material impact to the Fund’s valuation policies as a result of adopting FAS 157. The Fund will implement the disclosure requirements beginning with its January 31, 2009 Form N-Q.

***

In March 2008, FASB issued the Statement of Financial Accounting Standards No. 161, Disclosures about Derivative Instruments and Hedging Activities (“FAS 161”). FAS 161 is effective for fiscal years and interim periods beginning after November 15, 2008. FAS 161 requires enhanced disclosures about the Fund’s derivative and hedging activities, including how such activities are accounted for and their effect on the Fund’s financial position, performance and cash flows. Management is currently evaluating the impact the adoption of FAS 161 will have on the Fund’s financial statements and related disclosures.

Investment Company Act file number		811-21343

Western Asset Emerging Markets Debt Fund Inc.
(Exact name of registrant as specified in charter)

55 Water Street, New York, NY			10041
(Address of principal executive offices)			(Zip code)

Robert I. Frenkel, Esq. Legg Mason & Co., LLC 300 First Stamford Place, 4th Floor Stamford, CT 06902
(Name and address of agent for service)

Registrant's telephone number, including area code:		1-800-451-2010

Date of fiscal year end:	October 31

Date of reporting period:	July 31, 2008

ITEM 2.	CONTROLS AND PROCEDURES.

	(a)	The registrant’s principal executive officer and principal financial officer have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a- 3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the disclosure controls and procedures required by Rule 30a-3(b) under the 1940 Act and 15d-15(b) under the Securities Exchange Act of 1934.

	(b)	There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are likely to materially affect the registrant’s internal control over financial reporting.

ITEM 3.	EXHIBITS.

	Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940, as amended, are attached hereto.

By:	/s/ R. Jay Gerken
R. Jay Gerken
Chief Executive Officer

Date:		September 26, 2008

By:	/s/ R. Jay Gerken
R. Jay Gerken
Chief Executive Officer

Date:		September 26, 2008

By:	/s/ Kaprel Ozsolak
Kaprel Ozsolak
Chief Financial Officer

Date:		September 26, 2008

FORM N-Q

SIGNATURES