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WESTERN ASSET EMERGING MARKETS DEBT FUND INC.


Schedule of investments (unaudited)		March 31, 2021


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
SOVEREIGN BONDS - 81.7%
Angola - 1.4%
Angolan Government International Bond, Senior Notes		8.250	%		5/9/28		9,650,000		$	9,286,677	⁽^a)
Angolan Government International Bond, Senior Notes		9.125	%		11/26/49		3,000,000			2,798,325	^(a)

Total Angola										12,085,002

Argentina - 2.7%
Argentine Bonos del Tesoro, Bonds		16.000	%		10/17/23		82,130,000	^ARS		322,908	^(b)
Argentine Bonos del Tesoro, Bonds		15.500	%		10/17/26		157,160,000	^ARS		429,011	^(b)
Argentine Republic Government International Bond, Senior Notes		1.000	%		7/9/29		1,036,761			373,752	^(c)
Argentine Republic Government International Bond, Senior Notes, Step bond (0.125% to 7/9/21 then 0.500%)		0.125	%		7/9/30		25,413,747			8,552,997	^(c)
Ciudad Autonoma De Buenos Aires, Argentina Government Bond		7.500	%		6/1/27		3,000,000			2,362,530	^(d)
Provincia de Buenos Aires, Senior Notes		10.875	%		1/26/21		490,098			202,165	*^(a)(e)
Provincia de Buenos Aires, Senior Notes		9.950	%		6/9/21		3,400,000			1,309,000	*^(a)(e)
Provincia de Buenos Aires, Senior Notes		6.500	%		2/15/23		3,920,000			1,440,639	*^(d)(e)
Provincia de Buenos Aires, Senior Notes		9.125	%		3/16/24		3,500,000			1,356,250	*^(d)(e)
Provincia de Buenos Aires, Senior Notes		9.125	%		3/16/24		3,350,000			1,298,125	*^(a)(e)
Provincia de Cordoba, Senior Notes, Step bond (3.000% to 6/10/21, 5.000% to 6/10/22 then 6.875%)		3.000	%		12/10/25		508,945			352,450	^(d)
Provincia de Cordoba, Senior Notes, Step bond (3.000% to 6/1/21, 5.000% to 6/1/22 then 6.990%)		3.000	%		6/1/27		9,949,022			5,919,668	^(d)

Total Argentina										23,919,495

Armenia - 0.8%
Republic of Armenia International Bond, Senior Notes		3.950	%		9/26/29		7,700,000			7,325,164	^(d)

See Notes to Schedule of Investments.

Western Asset Emerging Markets Debt Fund Inc. 2021 Quarterly Report

WESTERN ASSET EMERGING MARKETS DEBT FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2021


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
Bahamas - 0.9%
Bahamas Government International Bond, Senior Notes		5.750	%		1/16/24		5,770,000		$	5,806,062	^(d)
Bahamas Government International Bond, Senior Notes		6.000	%		11/21/28		2,000,000			1,919,520	^(d)

Total Bahamas										7,725,582

Bahrain - 2.0%
Bahrain Government International Bond, Senior Notes		6.750	%		9/20/29		4,100,000			4,474,535	^(a)
Bahrain Government International Bond, Senior Notes		6.000	%		9/19/44		8,400,000			7,869,750	^(d)
Bahrain Government International Bond, Senior Notes		6.250	%		1/25/51		5,700,000			5,307,954	^(d)

Total Bahrain										17,652,239

Brazil - 2.0%
Brazil Letras do Tesouro Nacional		0.000	%		1/1/24		38,133,000	^BRL		5,514,782
Brazil Notas do Tesouro Nacional Serie F, Notes		10.000	%		1/1/23		59,682,000	^BRL		11,168,011
Brazil Notas do Tesouro Nacional Serie F, Notes		10.000	%		1/1/27		2,163,000	^BRL		403,635

Total Brazil										17,086,428

Colombia - 2.8%
Colombia Government International Bond, Senior Notes		7.375	%		9/18/37		16,567,000			21,959,558	^(c)
Colombia Government International Bond, Senior Notes		6.125	%		1/18/41		2,080,000			2,475,138	^(c)

Total Colombia										24,434,696

Costa Rica - 1.0%
Banco Nacional de Costa Rica		6.250	%		11/1/23		2,220,000			2,325,317	^(d)
Costa Rica Government International Bond, Senior Notes		6.125	%		2/19/31		1,050,000			1,061,298	^(a)
Costa Rica Government International Bond, Senior Notes		5.625	%		4/30/43		1,650,000			1,443,750	^(a)
Costa Rica Government International Bond, Senior Notes		7.158	%		3/12/45		4,200,000			4,099,242	^(c)(d)

Total Costa Rica										8,929,607

Croatia - 0.7%
Croatia Government International Bond, Senior Notes		5.500	%		4/4/23		5,640,000			6,181,462	^(a)(c)

See Notes to Schedule of Investments.

Western Asset Emerging Markets Debt Fund Inc. 2021 Quarterly Report

WESTERN ASSET EMERGING MARKETS DEBT FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2021


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Dominican Republic - 2.9%
Dominican Republic International Bond, Senior Notes		5.500	%		1/27/25		8,210,000	$	9,031,000	^(c)(d)
Dominican Republic International Bond, Senior Notes		6.000	%		7/19/28		7,300,000		8,241,700	^(d)
Dominican Republic International Bond, Senior Notes		6.850	%		1/27/45		4,200,000		4,656,750	^(c)(d)
Dominican Republic International Bond, Senior Notes		5.875	%		1/30/60		3,950,000		3,797,925	^(d)

Total Dominican Republic									25,727,375

Ecuador - 1.1%
Ecuador Government International Bond, Senior Notes		0.000	%		7/31/30		1,010,708		409,347	^(d)
Ecuador Government International Bond, Senior Notes, Step bond (0.500% to 7/31/21 then 1.000%)		0.500	%		7/31/35		15,204,438		6,994,041	^(d)
Ecuador Government International Bond, Senior Notes, Step bond (0.500% to 7/31/21 then 5.000%)		0.500	%		7/31/30		4,244,940		2,493,945	^(d)

Total Ecuador									9,897,333

Egypt - 3.3%
Egypt Government International Bond, Senior Notes		6.125	%		1/31/22		3,430,000		3,530,163	^(d)
Egypt Government International Bond, Senior Notes		7.625	%		5/29/32		5,800,000		5,953,700	^(d)
Egypt Government International Bond, Senior Notes		8.700	%		3/1/49		13,180,000		13,249,511	^(c)(d)
Egypt Government International Bond, Senior Notes		8.875	%		5/29/50		5,700,000		5,834,885	^(d)

Total Egypt									28,568,259

El Salvador - 1.0%
El Salvador Government International Bond, Senior Notes		6.375	%		1/18/27		6,380,000		6,333,745	^(c)(d)
El Salvador Government International Bond, Senior Notes		7.125	%		1/20/50		3,200,000		2,872,000	^(d)

Total El Salvador									9,205,745

Ethiopia - 0.3%
Ethiopia International Bond, Senior Notes		6.625	%		12/11/24		2,500,000		2,311,350	^(a)

Georgia - 0.3%
Georgia Government International Bond		6.875	%		4/12/21		2,360,000		2,363,505	^(a)(c)

See Notes to Schedule of Investments.

Western Asset Emerging Markets Debt Fund Inc. 2021 Quarterly Report

WESTERN ASSET EMERGING MARKETS DEBT FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2021


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
Ghana - 1.8%
Ghana Government International Bond		10.750	%		10/14/30		9,400,000		$	11,743,307	^(c)(d)
Ghana Government International Bond, Senior Notes		8.125	%		1/18/26		1,620,000			1,722,263	^(c)(d)
Ghana Government International Bond, Senior Notes		7.875	%		2/11/35		2,000,000			1,866,280	^(d)

Total Ghana										15,331,850

Guatemala - 1.1%
Guatemala Government Bond, Senior Notes		5.375	%		4/24/32		8,450,000			9,611,875	^(d)

Honduras - 0.6%
Honduras Government International Bond, Senior Notes		7.500	%		3/15/24		960,000			1,046,400	^(a)
Honduras Government International Bond, Senior Notes		6.250	%		1/19/27		3,500,000			3,841,250	^(d)

Total Honduras										4,887,650

Hungary - 1.6%
Hungary Government International Bond, Senior Notes		5.750	%		11/22/23		12,608,000			14,278,409	^(c)

Indonesia - 6.5%
Indonesia Government International Bond, Senior Notes		5.875	%		1/15/24		7,049,000			7,989,613	^(c)(d)
Indonesia Government International Bond, Senior Notes		6.625	%		2/17/37		3,210,000			4,282,363	^(a)(c)
Indonesia Government International Bond, Senior Notes		5.250	%		1/17/42		20,750,000			24,883,400	^(c)(d)(f)
Indonesia Treasury Bond		8.375	%		9/15/26		131,422,000,000	^IDR		10,023,812
Indonesia Treasury Bond		8.375	%		3/15/34		126,438,000,000	^IDR		9,552,010

Total Indonesia										56,731,198

Israel - 0.4%
Israel Government International Bond, Senior Notes		3.875	%		7/3/50		3,500,000			3,857,066

Ivory Coast - 1.6%
Ivory Coast Government International Bond, Senior Notes		5.375	%		7/23/24		1,350,000			1,449,454	^(d)
Ivory Coast Government International Bond, Senior Notes		6.375	%		3/3/28		2,680,000			2,912,892	^(c)(d)

See Notes to Schedule of Investments.

Western Asset Emerging Markets Debt Fund Inc. 2021 Quarterly Report

WESTERN ASSET EMERGING MARKETS DEBT FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2021


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
Ivory Coast - (continued)
Ivory Coast Government International Bond, Senior Notes		4.875	%		1/30/32		5,130,000	^EUR	$	5,880,081	^(c)(d)
Ivory Coast Government International Bond, Senior Notes		6.125	%		6/15/33		3,540,000			3,628,677	^(d)

Total Ivory Coast										13,871,104

Jamaica - 1.5%
Jamaica Government International Bond, Senior Notes		6.750	%		4/28/28		3,390,000			3,983,250	^(c)
Jamaica Government International Bond, Senior Notes		8.000	%		3/15/39		1,760,000			2,420,000	^(c)
Jamaica Government International Bond, Senior Notes		7.875	%		7/28/45		4,700,000			6,392,000

Total Jamaica										12,795,250

Jordan - 0.9%
Jordan Government International Bond, Senior Notes		6.125	%		1/29/26		440,000			470,421	^(d)
Jordan Government International Bond, Senior Notes		7.375	%		10/10/47		2,000,000			2,050,690	^(a)
Jordan Government International Bond, Senior Notes		7.375	%		10/10/47		5,020,000			5,147,232	^(d)

Total Jordan										7,668,343

Kazakhstan - 1.2%
Kazakhstan Government International Bond, Senior Notes		3.875	%		10/14/24		9,890,000			10,866,855	^(a)(c)

Kenya - 1.2%
Kenya Government International Bond, Senior Notes		6.875	%		6/24/24		200,000			220,334	^(c)(d)
Kenya Government International Bond, Senior Notes		7.000	%		5/22/27		2,310,000			2,460,993	^(d)
Kenya Government International Bond, Senior Notes		7.250	%		2/28/28		5,300,000			5,603,187	^(c)(d)
Kenya Government International Bond, Senior Notes		8.000	%		5/22/32		2,380,000			2,533,617	^(d)

Total Kenya										10,818,131

Mexico - 1.0%
Mexican Bonos, Senior Notes		7.750	%		11/23/34		84,080,000	^MXN		4,327,300
Mexican Bonos, Senior Notes		7.750	%		11/13/42		83,140,000	^MXN		4,112,215

Total Mexico										8,439,515

See Notes to Schedule of Investments.

Western Asset Emerging Markets Debt Fund Inc. 2021 Quarterly Report

WESTERN ASSET EMERGING MARKETS DEBT FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2021


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Morocco - 0.2%
Morocco Government International Bond, Senior Notes		4.000	%		12/15/50		2,400,000	$	2,130,533	^(d)

Nigeria - 2.0%
Nigeria Government International Bond, Senior Notes		7.625	%		11/21/25		3,000,000		3,388,095	^(c)(d)
Nigeria Government International Bond, Senior Notes		7.143	%		2/23/30		2,000,000		2,045,310	^(d)
Nigeria Government International Bond, Senior Notes		7.875	%		2/16/32		1,890,000		1,951,907	^(c)(d)
Nigeria Government International Bond, Senior Notes		7.696	%		2/23/38		2,960,000		2,912,077	^(d)
Nigeria Government International Bond, Senior Notes		9.248	%		1/21/49		6,200,000		6,827,750	^(c)(d)

Total Nigeria									17,125,139

Oman - 3.1%
Oman Government International Bond, Senior Notes		4.750	%		6/15/26		5,270,000		5,423,699	^(d)
Oman Government International Bond, Senior Notes		5.625	%		1/17/28		9,000,000		9,326,250	^(c)(d)
Oman Government International Bond, Senior Notes		6.000	%		8/1/29		6,000,000		6,253,278	^(d)
Oman Government International Bond, Senior Notes		6.750	%		1/17/48		6,500,000		6,223,230	^(a)

Total Oman									27,226,457

Panama - 0.7%
Panama Government International Bond, Senior Notes		9.375	%		4/1/29		910,000		1,333,705	^(c)
Panama Government International Bond, Senior Notes		6.700	%		1/26/36		159,000		214,540	^(c)
Panama Government International Bond, Senior Notes		4.500	%		4/1/56		4,200,000		4,608,324

Total Panama									6,156,569

Paraguay - 1.0%
Paraguay Government International Bond, Senior Notes		5.000	%		4/15/26		2,110,000		2,391,706	^(c)(d)
Paraguay Government International Bond, Senior Notes		4.950	%		4/28/31		3,950,000		4,483,290	^(d)
Paraguay Government International Bond, Senior Notes		5.400	%		3/30/50		1,910,000		2,161,184	^(c)(d)

Total Paraguay									9,036,180

See Notes to Schedule of Investments.

Western Asset Emerging Markets Debt Fund Inc. 2021 Quarterly Report

WESTERN ASSET EMERGING MARKETS DEBT FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2021


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
Peru - 5.0%
Peruvian Government International Bond, Senior Notes		7.350	%		7/21/25		10,300,000		$	12,771,845	^(c)
Peruvian Government International Bond, Senior Notes		8.750	%		11/21/33		19,998,000			31,240,676	^(c)

Total Peru										44,012,521

Philippines - 0.6%
Philippine Government International Bond, Senior Notes		3.950	%		1/20/40		4,600,000			4,957,017	^(c)

Poland - 1.8%
Republic of Poland Government International Bond, Senior Notes		5.000	%		3/23/22		14,784,000			15,449,280	^(c)(f)

Qatar - 3.5%
Qatar Government International Bond, Senior Notes		5.103	%		4/23/48		7,920,000			10,036,509	^(c)(d)(f)
Qatar Government International Bond, Senior Notes		4.817	%		3/14/49		14,100,000			17,309,442	^(c)(d)
Qatar Government International Bond, Senior Notes		4.400	%		4/16/50		2,900,000			3,372,918	^(c)(d)

Total Qatar										30,718,869

Romania - 0.2%
Romanian Government International Bond, Senior Notes		4.875	%		1/22/24		1,570,000			1,745,573	^(c)(d)

Russia - 6.4%
Russian Federal Bond — OFZ		7.000	%		1/25/23		964,000,000	^RUB		13,053,078
Russian Federal Bond — OFZ		8.150	%		2/3/27		289,580,000	^RUB		4,103,679
Russian Federal Bond — OFZ		7.050	%		1/19/28		83,026,000	^RUB		1,111,687
Russian Federal Bond — OFZ		7.700	%		3/16/39		1,007,670,000	^RUB		14,173,216
Russian Foreign Bond — Eurobond, Senior Notes		12.750	%		6/24/28		790,000			1,309,302	^(a)(c)
Russian Foreign Bond — Eurobond, Senior Notes		7.500	%		3/31/30		12,095,325			13,992,477	^(a)
Russian Foreign Bond — Eurobond, Senior Notes		5.625	%		4/4/42		3,400,000			4,172,963	^(c)(d)
Russian Foreign Bond — Eurobond, Senior Notes		5.875	%		9/16/43		3,400,000			4,315,429	^(c)(d)

Total Russia										56,231,831

See Notes to Schedule of Investments.

Western Asset Emerging Markets Debt Fund Inc. 2021 Quarterly Report

WESTERN ASSET EMERGING MARKETS DEBT FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2021


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
Senegal - 1.9%
Senegal Government International Bond, Senior Notes		6.250	%		7/30/24		2,170,000		$	2,343,327	^(a)
Senegal Government International Bond, Senior Notes		4.750	%		3/13/28		4,800,000	^EUR		5,729,155	^(d)
Senegal Government International Bond, Senior Notes		6.250	%		5/23/33		6,600,000			6,605,445	^(d)
Senegal Government International Bond, Senior Notes		6.750	%		3/13/48		1,650,000			1,574,001	^(d)

Total Senegal										16,251,928

South Africa - 1.0%
Republic of South Africa Government Bond, Senior Notes		8.500	%		1/31/37		81,280,000	^ZAR		4,395,435
Republic of South Africa Government International Bond, Senior Notes		5.375	%		7/24/44		5,000,000			4,564,075	^(c)

Total South Africa										8,959,510

Supranational - 2.1%
Asian Development Bank, Senior Notes		8.000	%		2/25/22		129,000,000	^UAH		4,624,539
European Bank for Reconstruction and Development, Senior Notes		6.450	%		12/13/22		134,803,200,000	^IDR		9,497,477
Inter-American Development Bank, Senior Notes		7.875	%		3/14/23		56,960,000,000	^IDR		4,120,140

Total Supranational										18,242,156

Tunisia - 0.4%
Banque Centrale de Tunisie International Bond, Senior Notes		5.750	%		1/30/25		3,760,000			3,291,594	^(a)

Turkey - 1.5%
Export Credit Bank of Turkey, Senior Notes		4.250	%		9/18/22		2,000,000			1,968,940	^(d)
Turkey Government International Bond, Senior Notes		5.750	%		3/22/24		450,000			446,812
Turkey Government International Bond, Senior Notes		4.250	%		4/14/26		5,400,000			4,919,416
Turkey Government International Bond, Senior Notes		6.125	%		10/24/28		1,000,000			948,275
Turkey Government International Bond, Senior Notes		4.875	%		4/16/43		6,160,000			4,724,412

Total Turkey										13,007,855

See Notes to Schedule of Investments.

Western Asset Emerging Markets Debt Fund Inc. 2021 Quarterly Report

WESTERN ASSET EMERGING MARKETS DEBT FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2021


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
Ukraine - 3.4%
Ukraine Government International Bond, Senior Notes		7.750	%		9/1/24		5,640,000		$	6,110,855	^(c)(d)
Ukraine Government International Bond, Senior Notes		9.750	%		11/1/28		15,080,000			17,606,564	^(a)
Ukraine Government International Bond, Senior Notes		4.375	%		1/27/30		2,000,000	^EUR		2,156,433	^(d)
Ukraine Government International Bond, Senior Notes		7.253	%		3/15/33		3,500,000			3,491,093	^(d)

Total Ukraine										29,364,945

United Arab Emirates - 1.6%
Abu Dhabi Government International Bond, Senior Notes		2.500	%		4/16/25		1,800,000			1,901,326	^(d)
Abu Dhabi Government International Bond, Senior Notes		4.125	%		10/11/47		5,400,000			6,107,886	^(d)
Abu Dhabi Government International Bond, Senior Notes		2.700	%		9/2/70		2,300,000			1,951,412	^(d)
Finance Department Government of Sharjah, Senior Notes		4.000	%		7/28/50		4,430,000			3,913,772	^(d)

Total United Arab Emirates										13,874,396

Uruguay - 1.2%
Uruguay Government International Bond, Senior Notes		4.375	%		10/27/27		2,943,154			3,349,869	^(c)
Uruguay Government International Bond, Senior Notes		5.100	%		6/18/50		4,341,000			5,396,536	^(c)
Uruguay Government International Bond, Senior Notes		4.975	%		4/20/55		1,180,000			1,450,314	^(c)

Total Uruguay										10,196,719

Venezuela - 0.4%
Venezuela Government International Bond, Senior Notes		7.750	%		10/13/19		22,130,000			2,213,000	*^(a)(g)
Venezuela Government International Bond, Senior Notes		8.250	%		10/13/24		7,000,000			728,000	*^(a)(e)
Venezuela Government International Bond, Senior Notes		9.250	%		9/15/27		4,205,000			441,525	*^(e)

Total Venezuela										3,382,525

Vietnam - 1.1%
Vietnam Government International Bond, Senior Notes		4.800	%		11/19/24		8,700,000			9,764,817	^(c)(d)

TOTAL SOVEREIGN BONDS (Cost - $716,993,947)										713,696,902

See Notes to Schedule of Investments.

Western Asset Emerging Markets Debt Fund Inc. 2021 Quarterly Report

WESTERN ASSET EMERGING MARKETS DEBT FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2021


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
CORPORATE BONDS & NOTES - 53.5%
COMMUNICATION SERVICES - 3.1%
Diversified Telecommunication Services - 0.6%
Turk Telekomunikasyon AS, Senior Notes		6.875	%		2/28/25		4,680,000	$	4,979,763	^(d)

Media - 0.6%
Cable Onda SA, Senior Notes		4.500	%		1/30/30		3,290,000		3,502,814	^(d)
Grupo Televisa SAB, Senior Notes		6.625	%		1/15/40		1,480,000		1,912,980	^(c)

Total Media									5,415,794

Wireless Telecommunication Services - 1.9%
Millicom International Cellular SA, Senior Notes		5.125	%		1/15/28		2,385,000		2,509,092	^(c)(d)
Millicom International Cellular SA, Senior Notes		6.250	%		3/25/29		4,239,000		4,722,733	^(c)(d)
VEON Holdings BV, Senior Notes		3.375	%		11/25/27		7,290,000		7,220,599	^(d)
VTR Comunicaciones SpA, Senior Secured Notes		5.125	%		1/15/28		1,911,000		2,000,148	^(d)

Total Wireless Telecommunication Services									16,452,572

TOTAL COMMUNICATION SERVICES									26,848,129

CONSUMER DISCRETIONARY - 2.7%
Hotels, Restaurants & Leisure - 1.6%
Gohl Capital Ltd., Senior Notes		4.250	%		1/24/27		3,130,000		3,325,794	^(a)(c)
Melco Resorts Finance Ltd., Senior Notes		5.375	%		12/4/29		4,670,000		4,972,569	^(d)
Sands China Ltd., Senior Notes		5.125	%		8/8/25		1,700,000		1,904,621	^(c)
Wynn Macau Ltd., Senior Notes		5.625	%		8/26/28		3,300,000		3,455,677	^(d)

Total Hotels, Restaurants & Leisure									13,658,661

Internet & Direct Marketing Retail - 1.1%
MercadoLibre Inc., Senior Notes		3.125	%		1/14/31		4,700,000		4,483,424
Prosus NV, Senior Notes		5.500	%		7/21/25		2,750,000		3,127,740	^(c)(d)
Prosus NV, Senior Notes		4.850	%		7/6/27		2,250,000		2,525,569	^(c)(d)

Total Internet & Direct Marketing Retail									10,136,733

TOTAL CONSUMER DISCRETIONARY									23,795,394

ENERGY - 18.4%
Oil, Gas & Consumable Fuels - 18.4%
Ecopetrol SA, Senior Notes		5.875	%		9/18/23		3,010,000		3,328,669	^(c)
Ecopetrol SA, Senior Notes		5.875	%		5/28/45		7,160,000		7,653,897	^(c)
GNL Quintero SA, Senior Notes		4.634	%		7/31/29		1,877,000		2,067,375	^(c)(d)
KazMunayGas National Co. JSC, Senior Notes		4.750	%		4/19/27		5,160,000		5,894,769	^(c)(d)

See Notes to Schedule of Investments.

Western Asset Emerging Markets Debt Fund Inc. 2021 Quarterly Report

WESTERN ASSET EMERGING MARKETS DEBT FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2021


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
KazMunayGas National Co. JSC, Senior Notes		5.750	%		4/19/47		4,970,000	$	5,910,394	^(c)(d)
KazMunayGas National Co. JSC, Senior Notes		6.375	%		10/24/48		5,300,000		6,790,174	^(c)(d)
KazTransGas JSC, Senior Notes		4.375	%		9/26/27		5,900,000		6,592,412	^(c)(d)
Lukoil International Finance BV, Senior Notes		6.656	%		6/7/22		3,524,000		3,752,190	^(a)(c)
Lukoil International Finance BV, Senior Notes		4.750	%		11/2/26		3,500,000		3,869,533	^(c)(d)
Oleoducto Central SA, Senior Notes		4.000	%		7/14/27		7,400,000		7,845,295	^(d)
Pertamina Persero PT, Senior Notes		4.875	%		5/3/22		2,540,000		2,645,404	^(c)(d)
Petrobras Global Finance BV, Senior Notes		7.375	%		1/17/27		5,600,000		6,657,140	^(c)
Petrobras Global Finance BV, Senior Notes		5.750	%		2/1/29		6,000,000		6,557,760
Petrobras Global Finance BV, Senior Notes		6.850	%		6/5/2115		13,800,000		14,207,100	^(c)
Petroleos de Venezuela SA, Senior Notes		9.000	%		11/17/21		16,630,000		785,767	*^(a)(e)
Petroleos de Venezuela SA, Senior Notes		6.000	%		5/16/24		8,145,000		387,458	*^(a)(e)
Petroleos del Peru SA, Senior Notes		4.750	%		6/19/32		10,800,000		11,409,444	^(c)(d)
Petroleos del Peru SA, Senior Notes		5.625	%		6/19/47		2,580,000		2,714,676	^(d)
Petroleos Mexicanos, Senior Notes		4.500	%		1/23/26		6,000,000		5,967,480	^(c)
Petroleos Mexicanos, Senior Notes		6.875	%		8/4/26		2,561,000		2,745,955	^(c)
Petroleos Mexicanos, Senior Notes		6.625	%		6/15/35		9,060,000		8,632,776	^(c)
Petroleos Mexicanos, Senior Notes		6.350	%		2/12/48		3,400,000		2,808,111	^(c)
Petroleos Mexicanos, Senior Notes		7.690	%		1/23/50		4,930,000		4,570,110	^(c)
Petronas Capital Ltd., Senior Notes		4.800	%		4/21/60		7,000,000		8,862,413	^(d)
Sinopec Group Overseas Development 2017 Ltd., Senior Notes		4.000	%		9/13/47		10,060,000		10,836,932	^(a)(c)
Transportadora de Gas del Peru SA, Senior Notes		4.250	%		4/30/28		1,080,000		1,193,206	^(a)(c)
Transportadora de Gas del Peru SA, Senior Notes		4.250	%		4/30/28		5,420,000		5,988,124	^(c)(d)
Transportadora de Gas Internacional SA ESP, Senior Notes		5.550	%		11/1/28		2,300,000		2,616,181	^(c)(d)
Ultrapar International SA, Senior Notes		5.250	%		10/6/26		3,190,000		3,416,681	^(c)(d)

See Notes to Schedule of Investments.

Western Asset Emerging Markets Debt Fund Inc. 2021 Quarterly Report

WESTERN ASSET EMERGING MARKETS DEBT FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2021


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
YPF SA, Senior Notes		8.500	%		3/23/25		2,000,000	$	1,644,020	^(a)
YPF SA, Senior Notes		8.500	%		7/28/25		3,000,000		2,104,215	^(d)

TOTAL ENERGY									160,455,661

FINANCIALS - 11.3%
Banks - 9.0%
Banco Bilbao Vizcaya Argentaria Colombia SA, Subordinated Notes		4.875	%		4/21/25		2,450,000		2,606,518	^(c)(d)
Banco de Credito del Peru, Subordinated Notes (3.125% to 7/1/25 then 5 year Treasury Constant Maturity Rate + 3.000%)		3.125	%		7/1/30		3,310,000		3,322,876	^(c)(d)(h)
Banco de Credito del Peru, Subordinated Notes (3.250% to 9/30/26 then 5 year Treasury Constant Maturity Rate + 2.450%)		3.250	%		9/30/31		2,400,000		2,400,000	^(d)(h)
Banco Mercantil del Norte SA, Junior Subordinated Notes (7.625% to 1/10/28 then 10 year Treasury Constant Maturity Rate + 5.353%)		7.625	%		1/10/28		5,900,000		6,476,519	^(c)(d)(h)(i)
Bancolombia SA, Senior Notes		3.000	%		1/29/25		2,000,000		2,046,950
Bank Leumi Le-Israel BM, Subordinated Notes (3.275% to 1/29/26 then 5 year Treasury Constant Maturity Rate + 1.631%)		3.275	%		1/29/31		4,760,000		4,861,150	^(a)(d)(h)
BBVA Banco Continental SA, Subordinated Notes (5.250% to 9/22/24 then 5 year Treasury Constant Maturity Rate + 2.750%)		5.250	%		9/22/29		980,000		1,063,721	^(c)(d)(h)
BBVA Bancomer SA, Subordinated Notes (5.350% to 11/12/24 then 5 year Treasury Constant Maturity Rate + 3.000%)		5.350	%		11/12/29		1,350,000		1,393,484	^(c)(d)(h)
HSBC Holdings PLC, Junior Subordinated Notes (4.600% to 6/17/31 then 5 year Treasury Constant Maturity Rate + 3.649%)		4.600	%		12/17/30		970,000		961,513	^(h)(i)
Itau Unibanco Holding SA, Junior Subordinated Notes (6.500% to 3/19/23 then 5 year Treasury Constant Maturity Rate + 3.863%)		6.500	%		3/19/23		6,970,000		7,078,697	^(c)(d)(h)(i)

See Notes to Schedule of Investments.

Western Asset Emerging Markets Debt Fund Inc. 2021 Quarterly Report

WESTERN ASSET EMERGING MARKETS DEBT FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2021


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
NBK Tier 1 Financing Ltd., Senior Notes (3.625% to 2/24/27 then USD 6 year ICE Swap Rate + 2.875%)		3.625	%		8/24/26		6,450,000	$	6,404,495	^(d)(h)(i)
Russian Agricultural Bank OJSC Via RSHB Capital SA, Subordinated Notes		8.500	%		10/16/23		16,770,000		18,873,461	^(a)
Shinhan Bank Co. Ltd., Subordinated Notes		3.875	%		3/24/26		1,260,000		1,382,252	^(c)(d)
TC Ziraat Bankasi AS, Senior Notes		5.125	%		9/29/23		10,810,000		10,618,587	^(c)(d)
UniCredit SpA, Subordinated Notes (7.296% to 4/2/29 then USD 5 year ICE Swap Rate + 4.914%)		7.296	%		4/2/34		3,410,000		4,021,447	^(c)(d)(h)
United Overseas Bank Ltd., Subordinated Notes (3.750% to 4/15/24 then 5 year Treasury Constant Maturity Rate + 1.500%)		3.750	%		4/15/29		4,600,000		4,923,886	^(d)(h)

Total Banks									78,435,556

Capital Markets - 0.3%
UBS Group AG, Junior Subordinated Notes (7.000% to 1/31/24 then USD 5 year ICE Swap Rate + 4.344%)		7.000	%		1/31/24		2,340,000		2,571,859	^(c)(d)(h)(i)

Consumer Finance - 0.7%
African Export-Import Bank, Senior Notes		3.994	%		9/21/29		5,900,000		6,199,490	^(d)

Diversified Financial Services - 1.1%
DAE Funding LLC, Senior Notes		4.500	%		8/1/22		4,700,000		4,741,125	^(c)(d)
DAE Funding LLC, Senior Notes		5.000	%		8/1/24		2,880,000		2,971,800	^(c)(d)
Park Aerospace Holdings Ltd., Senior Notes		5.250	%		8/15/22		68,000		71,410	^(c)(d)
Park Aerospace Holdings Ltd., Senior Notes		5.500	%		2/15/24		1,980,000		2,153,724	^(c)(d)

Total Diversified Financial Services									9,938,059

Real Estate Management & Development - 0.2%
Panther Ventures Ltd., Senior Notes		3.800	%		9/17/23		2,000,000		1,979,499	^(a)(i)

TOTAL FINANCIALS									99,124,463

INDUSTRIALS - 2.1%
Aerospace & Defense - 0.2%
Avolon Holdings Funding Ltd., Senior Notes		4.250	%		4/15/26		1,820,000		1,907,996	^(d)

See Notes to Schedule of Investments.

Western Asset Emerging Markets Debt Fund Inc. 2021 Quarterly Report

WESTERN ASSET EMERGING MARKETS DEBT FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2021


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Industrial Conglomerates - 0.2%
Alfa SAB de CV, Senior Notes		6.875	%		3/25/44		1,000,000	$	1,239,535	^(c)(d)
General Electric Co., Senior Notes		3.450	%		5/1/27		810,000		880,332	^(c)

Total Industrial Conglomerates									2,119,867

Road & Rail - 0.9%
Empresa de Transporte de Pasajeros Metro SA, Senior Notes		5.000	%		1/25/47		2,560,000		2,994,138	^(c)(d)
Empresa de Transporte de Pasajeros Metro SA, Senior Notes		4.700	%		5/7/50		4,000,000		4,570,440	^(d)

Total Road & Rail									7,564,578

Transportation Infrastructure - 0.8%
DP World PLC, Senior Notes		5.625	%		9/25/48		3,400,000		3,999,138	^(c)(d)
ENA Master Trust, Senior Secured Notes		4.000	%		5/19/48		2,850,000		2,896,312	^(d)

Total Transportation Infrastructure									6,895,450

TOTAL INDUSTRIALS									18,487,891

MATERIALS - 10.9%
Chemicals - 4.8%
Braskem America Finance Co., Senior Notes		7.125	%		7/22/41		210,000		239,374	^(a)(c)
Braskem Finance Ltd., Senior Notes		6.450	%		2/3/24		2,350,000		2,623,070	^(c)
Equate Petrochemical BV, Senior Notes		3.000	%		3/3/22		492,000		500,888	^(a)(c)
Equate Petrochemical BV, Senior Notes		4.250	%		11/3/26		1,300,000		1,417,286	^(c)(d)
Equate Petrochemical BV, Senior Notes		4.250	%		11/3/26		200,000		218,044	^(a)(c)
GC Treasury Center Co. Ltd., Senior Notes		2.980	%		3/18/31		1,100,000		1,088,566	^(d)
MEGlobal Canada ULC, Senior Notes		5.875	%		5/18/30		4,100,000		4,960,221	^(c)(d)
OCP SA, Senior Notes		5.625	%		4/25/24		4,900,000		5,340,167	^(c)(d)
OCP SA, Senior Notes		4.500	%		10/22/25		5,590,000		5,936,887	^(c)(d)
Orbia Advance Corp SAB de CV, Senior Notes		4.875	%		9/19/22		2,101,000		2,217,332	^(c)(d)
Orbia Advance Corp. SAB de CV, Senior Notes		5.875	%		9/17/44		4,960,000		5,821,428	^(c)(d)
Phosagro OAO Via Phosagro Bond Funding DAC, Senior Notes		3.950	%		11/3/21		2,779,000		2,825,598	^(c)(d)

See Notes to Schedule of Investments.

Western Asset Emerging Markets Debt Fund Inc. 2021 Quarterly Report

WESTERN ASSET EMERGING MARKETS DEBT FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2021


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Chemicals - (continued)
Sasol Financing USA LLC, Senior Notes		4.375	%		9/18/26		5,800,000	$	5,931,370
Sociedad Quimicay Minera de Chile SA, Senior Notes		4.250	%		1/22/50		2,100,000		2,253,941	^(d)

Total Chemicals									41,374,172

Construction Materials - 0.3%
Cemex SAB de CV, Senior Secured Notes		3.875	%		7/11/31		2,600,000		2,542,930	^(d)

Containers & Packaging - 0.4%
Klabin Austria GmbH, Senior Notes		3.200	%		1/12/31		3,740,000		3,561,770	^(d)

Metals & Mining - 3.9%
Fresnillo PLC, Senior Notes		4.250	%		10/2/50		8,000,000		7,874,800	^(d)
Indonesia Asahan Aluminium Persero PT, Senior Notes		5.710	%		11/15/23		10,120,000		11,168,938	^(c)(d)
Southern Copper Corp., Senior Notes		7.500	%		7/27/35		310,000		440,518	^(c)
Southern Copper Corp., Senior Notes		6.750	%		4/16/40		5,490,000		7,576,791	^(c)
Volcan Cia Minera SAA, Senior Notes		4.375	%		2/11/26		7,000,000		7,183,505	^(d)

Total Metals & Mining									34,244,552

Paper & Forest Products - 1.5%
Inversiones CMPC SA, Senior Notes		4.500	%		4/25/22		2,350,000		2,419,948	^(c)(d)
Inversiones CMPC SA, Senior Notes		4.375	%		5/15/23		2,070,000		2,186,706	^(c)(d)
Suzano Austria GmbH, Senior Notes		5.750	%		7/14/26		3,450,000		4,064,893	^(c)(d)
Suzano Austria GmbH, Senior Notes		6.000	%		1/15/29		3,940,000		4,642,522	^(c)

Total Paper & Forest Products									13,314,069

TOTAL MATERIALS									95,037,493

REAL ESTATE - 1.4%
Real Estate Management & Development - 1.4%
Country Garden Holdings Co. Ltd., Senior Secured Notes		4.750	%		7/25/22		10,000,000		10,200,000	^(a)
Yuzhou Properties Co. Ltd., Senior Secured Notes		6.000	%		10/25/23		2,000,000		1,787,439	^(a)(c)

TOTAL REAL ESTATE									11,987,439

UTILITIES - 3.6%
Electric Utilities - 3.2%
Abu Dhabi National Energy Co. PJSC, Senior Notes		4.875	%		4/23/30		5,100,000		6,082,790	^(d)(f)
Enel Chile SA, Senior Notes		4.875	%		6/12/28		5,150,000		5,972,172	^(c)

See Notes to Schedule of Investments.

Western Asset Emerging Markets Debt Fund Inc. 2021 Quarterly Report

WESTERN ASSET EMERGING MARKETS DEBT FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2021


SECURITY			RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Electric Utilities - (continued)
Eskom Holdings SOC Ltd.				6.350	%		8/10/28		6,340,000	$	6,717,230	^(a)
Kallpa Generacion SA, Senior Notes				4.875	%		5/24/26		2,270,000		2,490,133	^(a)(c)
Perusahaan Listrik Negara PT, Senior Notes				5.250	%		5/15/47		5,810,000		6,398,263	^(a)(c)

Total Electric Utilities											27,660,588

Independent Power and Renewable Electricity Producers - 0.4%
Enel Generacion Chile SA, Senior Notes				4.250	%		4/15/24		500,000		537,931	^(c)
Minejesa Capital BV, Senior Secured Notes				5.625	%		8/10/37		3,100,000		3,255,000	^(c)(d)

Total Indepe1ndent Power and Renewable Electricity Producers											3,792,931

TOTAL UTILITIES											31,453,519

TOTAL CORPORATE BONDS & NOTES (Cost - $440,435,586)											467,189,989


	COUNTERPARTY		EXPIRATION DATE			CONTRACTS		NOTIONAL AMOUNT†
PURCHASED OPTIONS - 0.1%
OTC Purchased Options - 0.1%
U.S. Dollar/Chinese Yuan, Put @ 6.55^CNY		JPMorgan Chase & Co.		11/12/21			27,170,000		27,170,000		230,393
U.S. Dollar/Chinese Yuan Renminbi, Put @6.45^CNY		JPMorgan Chase & Co.		3/6/22			8,825,000		8,825,000		53,089
U.S. Dollar/Indian Rupee, Put @ 72.00^INR		Barclays Bank PLC		4/5/21			8,770,000		8,770,000		92
U.S. Dollar/ Indonesian Rupiah, Put @ 14,000.00^IDR		Citibank N.A.		8/23/21			18,050,000		18,050,000		51,997
U.S. Dollar/Mexican Peso, Put @ 21.00^MXN		Bank of America N.A.		5/28/21			8,900,000		8,900,000		329,294
U.S. Dollar/Russian Ruble, Put @ 74.00^RUB		Bank of America N.A.		4/9/21			9,413,000		9,413,000		15,332

TOTAL PURCHASED OPTIONS (Cost - $1,109,957)											680,197

TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS (Cost - $1,158,539,490)											1,181,567,088

See Notes to Schedule of Investments.

Western Asset Emerging Markets Debt Fund Inc. 2021 Quarterly Report

WESTERN ASSET EMERGING MARKETS DEBT FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2021


SECURITY	RATE			SHARES		VALUE
SHORT-TERM INVESTMENTS - 1.4%
Dreyfus Government Cash Management, Institutional Shares (Cost - $12,367,105)		0.030	%		12,367,105	$	12,367,105

TOTAL INVESTMENTS - 136.7% (Cost - $1,170,906,595)							1,193,934,193
Liabilities in Excess of Other Assets - (36.7)%							(320,620,036	)

TOTAL NET ASSETS - 100.0%						$	873,314,157

†	Face amount/notional amount denominated in U.S. dollars, unless otherwise noted.

*	Non-income producing security.

(a)

Security is exempt from registration under Regulation S of the Securities Act of 1933. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. This security has been deemed liquid pursuant to guidelines approved by the Board of Directors.

(b)	Security is valued in good faith in accordance with procedures approved by the Board of Directors (Note 1).

(c)	All or a portion of this security is pledged as collateral pursuant to the loan agreement.

(d)

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.

(e)	The coupon payment on this security is currently in default as of March 31, 2021.

(f)	All or a portion of this security is held by the counterparty as collateral for open reverse repurchase agreements.

(g)	The maturity principal is currently in default as of March 31, 2021.

(h)

Variable rate security. Interest rate disclosed is as of the most recent information available. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above.

(i)	Security has no maturity date. The date shown represents the next call date.

Abbreviation(s) used in this schedule:


ARS		— Argentine Peso
BRL		— Brazilian Real
CNY		— Chinese Yuan Renminbi
EUR		— Euro
ICE		— Intercontinental Exchange
IDR		— Indonesian Rupiah
INR		— Indian Rupee
JSC		— Joint Stock Company
MXN		— Mexican Peso
OFZ		— Obligatsyi Federal’novo Zaima (Russian Federal Loan Obligation)
OJSC		— Open Joint Stock Company
PJSC		— Private Joint Stock Company
RUB		— Russian Ruble
UAH		— Ukrainian Hryvnia
USD		— United States Dollar
ZAR		— South African Rand

See Notes to Schedule of Investments.

Western Asset Emerging Markets Debt Fund Inc. 2021 Quarterly Report

WESTERN ASSET EMERGING MARKETS DEBT FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2021

At March 31, 2021, the Fund had the following open reverse repurchase agreements:


COUNTERPARTY	RATE			EFFECTIVE DATE		MATURITY DATE			FACE AMOUNT OF REVERSE REPURCHASE AGREEMENTS		ASSET CLASS OF COLLATERAL*		COLLATERAL VALUE
JPMorgan Chase & Co.		0.280	%		1/20/2021		TBD	**	$	10,296,794		Sovereign Bonds	$	10,036,509
												Cash		534,635
JPMorgan Chase & Co.		0.300	%		1/8/2021		TBD	**		3,498,398		Corporate Bonds & Notes		3,578,112
												Cash		190,602
JPMorgan Chase & Co.		0.550	%		1/8/2021		TBD	**		11,709,558		Sovereign Bonds		12,017,500
												Cash		640,160
JPMorgan Chase & Co.		0.800	%		1/8/2021		TBD	**		22,183,937		Sovereign Bonds		23,984,000
												Cash		1,277,603

									$	47,688,687			$	52,259,121

*	Refer to the Schedule of Investments for positions held at the counterparty as collateral for reverse repurchase agreements.

TBD — To Be Determined; These reverse repurchase agreements have no maturity dates because they are renewed daily and can be terminated by either the Fund or the counterparty in accordance with the terms of the agreements. The rates for these agreements are variable. The rate disclosed is the rate as of March 31, 2021.

SCHEDULE OF WRITTEN OPTIONS

OTC WRITTEN OPTIONS


SECURITY	COUNTERPARTY	EXPIRATION DATE		STRIKE PRICE			CONTRACTS		NOTIONAL AMOUNT†		VALUE
U.S. Dollar/Chinese Yuan, Call	JPMorgan Chase & Co.		11/12/21		7.11	^CNY		27,170,000		27,170,000	$	(119,182	)
U.S. Dollar/Chinese Yuan Renminbi, Call	JPMorgan Chase & Co.		3/16/22		7.00	^CNY		8,825,000		8,825,000		(98,924	)
U.S. Dollar/Indian Rupee, Call	Barclays Bank PLC		4/5/21		78.00	^INR		8,770,000		8,770,000		(1	)
U.S. Dollar/Indonesian Rupiah, Call	Citibank N.A.		8/23/21		15,000.00	^IDR		18,050,000		18,050,000		(331,092	)
U.S. Dollar/Mexican Peso, Call	Bank of America N.A.		5/28/21		22.00	^MXN		8,900,000		8,900,000		(59,725	)
U.S. Dollar/Mexican Peso, Put	Bank of America N.A.		5/28/21		20.30	^MXN		8,900,000		8,900,000		(153,287	)
U.S. Dollar/Russian Ruble, Call	Bank of America N.A.		4/9/21		77.25	^RUB		9,413,000		9,413,000		(30,941	)
U.S. Dollar/Russian Ruble, Put	Bank of America N.A.		4/9/21		71.00	^RUB		9,413,000		9,413,000		(237	)

Total OTC Written Options (Premiums received — $ 1,197,207)											$	(793,389	)

†	Notional amount denominated in U.S. dollars, unless otherwise noted.

See Notes to Schedule of Investments.

Western Asset Emerging Markets Debt Fund Inc. 2021 Quarterly Report

WESTERN ASSET EMERGING MARKETS DEBT FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2021

Abbreviation(s) used in this schedule:



CNY		— Chinese Yuan Renminbi
IDR		— Indonesian Rupiah
INR		— Indian Rupee
MXN		— Mexican Peso
RUB		— Russian Ruble

At March 31, 2021, the Fund had the following open futures contracts:


	NUMBER OF CONTRACTS		EXPIRATION DATE		NOTIONAL AMOUNT		MARKET VALUE		UNREALIZED APPRECIATION
Contracts to Sell:
U.S. Treasury 10-Year Notes		403		6/21	$	54,287,155	$	52,767,813	$	1,519,342
U.S. Treasury Long-Term Bonds		650		6/21		104,595,963		100,485,938		4,110,025

Net unrealized appreciation on open futures contracts									$	5,629,367

At March 31, 2021, the Fund had the following open forward foreign currency contracts:


CURRENCY PURCHASED		CURRENCY SOLD			COUNTERPARTY	SETTLEMENT DATE		UNREALIZED APPRECIATION (DEPRECIATION)
RUB	48,330,496		USD	651,719	Bank of America N.A.		4/12/21	$	(13,477	)
USD	4,928,142		RUB	367,048,000	Bank of America N.A.		4/12/21		80,989
USD	15,805,667		IDR	222,701,848,000	Bank of America N.A.		4/15/21		490,247
MXN	9,854,694		USD	491,849	Citibank N.A.		4/15/21		(10,499	)
BRL	3,458,664		USD	643,544	JPMorgan Chase & Co.		4/15/21		(29,628	)
MXN	90,387,000		USD	4,353,692	JPMorgan Chase & Co.		4/15/21		61,237
USD	2,372,522		BRL	12,764,000	JPMorgan Chase & Co.		4/15/21		106,901
USD	2,424,175		BRL	12,909,000	JPMorgan Chase & Co.		4/15/21		132,817
USD	14,079,398		BRL	77,480,337	JPMorgan Chase & Co.		4/15/21		326,573
USD	21,318,857		IDR	306,458,572,494	JPMorgan Chase & Co.		4/15/21		243,407
USD	8,520,756		MXN	173,055,000	JPMorgan Chase & Co.		4/15/21		67,931
USD	9,527,580		MXN	191,990,267	JPMorgan Chase & Co.		4/15/21		149,866
RUB	381,320,000		USD	5,130,096	Bank of America N.A.		6/15/21		(135,037	)
USD	31,375,993		RUB	2,348,414,644	Bank of America N.A.		6/15/21		613,201
USD	38,150,024		SAR	143,116,000	Bank of America N.A.		6/15/21		(5,594	)
USD	15,311,639		EUR	12,827,417	Goldman Sachs Group Inc.		6/15/21		244,556
USD	1,180,861		SAR	4,430,000	Goldman Sachs Group Inc.		6/15/21		(205	)
CNY	23,389,188		USD	3,560,811	JPMorgan Chase & Co.		6/15/21		(12,694	)

Total								$	2,310,591

See Notes to Schedule of Investments.

Western Asset Emerging Markets Debt Fund Inc. 2021 Quarterly Report

WESTERN ASSET EMERGING MARKETS DEBT FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2021

Abbreviation(s) used in this table:


BRL		— Brazilian Real
CNY		— Chinese Yuan Renminbi
EUR		— Euro
IDR		— Indonesian Rupiah
MXN		— Mexican Peso
RUB		— Russian Ruble
SAR		— Saudi Arabian Riyal
USD		— United States Dollar

At March 31, 2021, the Fund had the following open swap contracts:


CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON SOVEREIGN ISSUES - BUY PROTECTION¹
REFERENCE ENTITY	NOTIONAL AMOUNT²		TERMINATION DATE		IMPLIED CREDIT SPREAD AT MARCH 31, 2021³			PERIODIC PAYMENTS MADE BY THE FUND†		MARKET VALUE			UPFRONT PREMIUMS PAID (RECEIVED)		UNREALIZED DEPRECIATION
Republic of Chile, 3.240%, due 2/6/28	$	19,700,000		12/20/24		0.393	%		1.000% quarterly	$	(444,783	)	$	485,071	$	(929,854	)
State of Qatar, 9.750%, due 6/15/30		19,700,000		12/20/24		0.334	%		1.000% quarterly		(487,845	)		498,617		(986,462	)

Total	$	39,400,000								$	(932,628	)	$	983,688	$	(1,916,316	)

If the Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or the underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or the underlying securities comprising the referenced index.

²	The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.

Implied credit spreads, utilized in determining the market value of credit default swap agreements on corporate or sovereign issues as of period end, serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. A credit spread identified as “Defaulted” indicates a credit event has occurred for the referenced entity or obligation.

†	Percentage shown is an annual percentage rate.

This Schedule of Investments is unaudited and is intended to provide information about the Fund’s investments as of the date of the schedule. Other information regarding the Fund is available in the Fund’s most recent annual or semi-annual shareholder report.

See Notes to Schedule of Investments.

Western Asset Emerging Markets Debt Fund Inc. 2021 Quarterly Report

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 to seek high current income and the Fund’s secondary objective is to seek capital appreciation.

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. The valuations for fixed income securities (which may include, but are not limited to, corporate, government, municipal, mortgage-backed, collateralized mortgage obligations and asset-backed securities) and certain derivative instruments are typically the prices supplied by independent third party pricing services, which may use market prices or broker/dealer quotations or a variety of valuation techniques and methodologies. The independent third party pricing services typically use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar securities. Investments in open-end funds are valued at the closing net asset value per share of each fund on the day of valuation. Futures contracts are valued daily at the settlement price established by the board of trade or exchange on which they are traded. 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 the Fund holds securities or other assets that are denominated in a foreign currency, the Fund will normally use the currency exchange rates as of 4:00 p.m. (Eastern Time). If independent third party pricing services are unable to supply prices for a portfolio investment, or if the prices supplied are deemed by the manager to be unreliable, the market price may be determined by the manager using quotations from one or more broker/dealers or at the transaction price if the security has recently been purchased and no value has yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, 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 values these securities as determined in accordance with procedures approved by the Fund’s Board of Directors.

The Board of Directors is responsible for the valuation process and has delegated the supervision of the daily valuation process to the Global Fund Valuation Committee (formerly known as Legg Mason North Atlantic Fund Valuation Committee prior to March 1, 2021) (the “Valuation Committee”). The Valuation Committee, pursuant to the policies adopted by the Board of Directors, is responsible for making fair value determinations, evaluating the effectiveness of the Fund’s pricing policies, and reporting to the Board of Directors. When determining the reliability of third party pricing information for investments owned by the

Notes to Schedule of Investments (unaudited) (continued)

Fund, the Valuation Committee, among other things, conducts due diligence reviews of pricing vendors, monitors the daily change in prices and reviews transactions among market participants.

The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer’s financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts’ research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.

For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Directors, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such back testing monthly and fair valuation occurrences are reported to the Board of Directors quarterly.

The Fund uses valuation techniques to measure fair value that are consistent with the market approach and/or income approach, depending on the type of security and the particular circumstance. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable securities. The income approach uses valuation techniques to discount estimated future cash flows to present value.

GAAP establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:

•

Level 1 – quoted prices in active markets for identical investments

•

Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

•

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

Notes to Schedule of Investments (unaudited) (continued)

The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used in valuing the Fund’s assets and liabilities carried at fair value:


ASSETS
DESCRIPTION	QUOTED PRICES (LEVEL 1)		OTHER SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2)		SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)		TOTAL
Long-Term Investments†:
Sovereign Bonds		—	$	713,696,902		—	$	713,696,902
Corporate Bonds & Notes		—		467,189,989		—		467,189,989
Purchased Options		—		680,197		—		680,197

Total Long-Term Investments		—		1,181,567,088		—		1,181,567,088

Short-Term Investments†	$	12,367,105		—		—		12,367,105

Total Investments	$	12,367,105	$	1,181,567,088		—	$	1,193,934,193

Other Financial Instruments:
Futures Contracts	$	5,629,367		—		—	$	5,629,367
Forward Foreign Currency Contracts		—	$	2,517,725		—		2,517,725

Total Other Financial Instruments	$	5,629,367	$	2,517,725		—	$	8,147,092

Total	$	17,996,472	$	1,184,084,813		—	$	1,202,081,285


LIABILITIES
DESCRIPTION	QUOTED PRICES (LEVEL 1)		OTHER SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2)		SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)		TOTAL
Other Financial Instruments:
Written Options		—	$	793,389		—	$	793,389
Forward Foreign Currency Contracts		—		207,134		—		207,134
Centrally Cleared Credit Default Swaps on Sovereign Issues - Buy Protection		—		1,916,316		—		1,916,316

Total		—	$	2,916,839		—	$	2,916,839

†	See Schedule of Investments for additional detailed categorizations.