Against the backdrop of low global interest rates and borrowing costs, bond issuances in international markets by Latin American and Caribbean countries totalled US$ 124 billion in the first nine months of 2021, up 6% from the year-earlier period. Of this total, almost US$ 40 billion (31.5%) were issued to finance environmental, social and governance (ESG) projects and strategies. Sustainability-linked bonds were the region’s most frequently used ESG instrument. Capital flows to Latin America and the Caribbean: first nine months of 2021 presents and analyses the developments concerning capital flows to Latin America and the Caribbean from January to September 2021. This report is published three times a year and provides an overview of international bond issuances from Latin American and Caribbean issuers, including green, social, sustainability and sustainability-linked bonds, as well as bond spreads and credit ratings.