Edgar Filing: WESTERN ASSET EMERGING MARKETS INCOME FUND INC.

Western Asset Emerging Markets Income Fund Inc.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-07686

Western Asset Emerging Markets Income Fund Inc.

(Exact name of registrant as specified in charter)

620 Eighth Avenue, 49^th Floor, New York, NY 10018

(Address of principal executive offices) (Zip code)

Robert I. Frenkel, Esq.

Legg Mason & Co., LLC

100 First Stamford Place

Stamford, CT 06902

(Name and address of agent for service)

Registrant’s telephone number, including area code: 1-888-777-0102

Date of fiscal year end: May 31

Date of reporting period: August 31, 2014

ITEM 1.

SCHEDULE OF INVESTMENTS.

WESTERN ASSET EMERGING MARKETS INCOME FUND INC.

FORM N-Q

AUGUST 31, 2014

WESTERN ASSET EMERGING MARKETS INCOME FUND INC.


Schedule of investments (unaudited)		August 31, 2014


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
SOVEREIGN BONDS - 59.6%
Angola - 0.2%
Republic of Angola, Senior Notes		7.000	%		8/16/19		620,000		$	681,597	^(a)

Argentina - 2.2%
Republic of Argentina, Senior Bonds		7.000	%		10/3/15		9,961,000			9,193,250

Brazil - 4.0%
Federative Republic of Brazil, Notes		10.000	%		1/1/17		33,465,000	^BRL		14,591,846
Federative Republic of Brazil, Senior Bonds		7.125	%		1/20/37		1,337,000			1,768,182	^(b)
Federative Republic of Brazil, Senior Notes		8.000	%		1/15/18		389			436

Total Brazil										16,360,464

Chile - 1.8%
Banco del Estado de Chile, Senior Notes		4.125	%		10/7/20		380,000			403,151	^(c)
Corporacion Nacional del Cobre de Chile, Senior Notes		3.750	%		11/4/20		1,190,000			1,242,479	^(c)
Corporacion Nacional del Cobre de Chile, Senior Notes		3.875	%		11/3/21		1,970,000			2,068,880	^(b)(c)
Corporacion Nacional del Cobre de Chile, Senior Notes		3.000	%		7/17/22		1,371,000			1,352,786	^(a)(b)
Corporacion Nacional del Cobre de Chile, Senior Notes		3.000	%		7/17/22		650,000			641,365	^(c)
Republic of Chile, Senior Notes		3.875	%		8/5/20		1,750,000			1,894,375	^(b)

Total Chile										7,603,036

Colombia - 4.2%
Republic of Colombia, Senior Bonds		4.375	%		7/12/21		400,000			432,200	^(b)
Republic of Colombia, Senior Bonds		4.000	%		2/26/24		2,740,000			2,870,150	^(b)
Republic of Colombia, Senior Bonds		7.375	%		9/18/37		5,781,000			8,081,838	^(b)
Republic of Colombia, Senior Bonds		6.125	%		1/18/41		760,000			944,300	^(b)
Republic of Colombia, Senior Notes		7.375	%		3/18/19		4,076,000			4,948,264	^(b)

Total Colombia										17,276,752

Costa Rica - 0.4%
Republic of Costa Rica, Notes		7.000	%		4/4/44		1,680,000			1,797,600	^(c)

Croatia - 1.5%
Republic of Croatia, Notes		5.500	%		4/4/23		2,600,000			2,726,620	^(c)
Republic of Croatia, Senior Notes		6.625	%		7/14/20		1,360,000			1,516,400	^(c)
Republic of Croatia, Senior Notes		5.500	%		4/4/23		1,740,000			1,824,738	^(a)

Total Croatia										6,067,758

Ecuador - 0.5%
Republic of Ecuador, Senior Bonds		7.950	%		6/20/24		2,084,000			2,229,880	^(c)

Gabon - 0.3%
Gabonese Republic, Bonds		6.375	%		12/12/24		1,320,000			1,455,300	^(c)

Hungary - 2.0%
Republic of Hungary, Senior Notes		4.000	%		3/25/19		3,510,000			3,613,377
Republic of Hungary, Senior Notes		5.750	%		11/22/23		4,076,000			4,503,980

Total Hungary										8,117,357

Indonesia - 6.1%
Republic of Indonesia, Notes		3.750	%		4/25/22		10,040,000			9,964,700	^(a)(b)
Republic of Indonesia, Notes		5.250	%		1/17/42		7,140,000			7,309,575	^(c)
Republic of Indonesia, Notes		5.250	%		1/17/42		600,000			614,250	^(a)
Republic of Indonesia, Senior Bonds		6.875	%		1/17/18		420,000			480,900	^(a)
Republic of Indonesia, Senior Bonds		6.625	%		2/17/37		1,105,000			1,309,425	^(a)
Republic of Indonesia, Senior Notes		4.875	%		5/5/21		1,005,000			1,079,119	^(b)(c)

See Notes to Schedule of Investments.

WESTERN ASSET EMERGING MARKETS INCOME FUND INC.


Schedule of investments (unaudited) (cont’d)		August 31, 2014


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
Indonesia - 6.1% (continued)
Republic of Indonesia, Senior Notes		3.375	%		4/15/23		1,595,000		$	1,529,206	^(c)(d)
Republic of Indonesia, Senior Notes		5.875	%		1/15/24		2,399,000			2,737,859	^(c)(d)

Total Indonesia										25,025,034

Ivory Coast - 0.6%
Republic of Cote D’Ivoire, Bonds		5.375	%		7/23/24		2,590,000			2,551,150	^(c)

Kenya - 0.3%
Republic of Kenya, Senior Notes		5.875	%		6/24/19		1,120,000			1,166,480	^(c)

Lithuania - 1.1%
Republic of Lithuania, Senior Notes		6.125	%		3/9/21		3,920,000			4,615,800	^(b)(c)

Mexico - 4.9%
United Mexican States, Bonds		8.000	%		6/11/20		63,981,100	^MXN		5,626,285	^(b)
United Mexican States, Bonds		6.500	%		6/9/22		17,685,600	^MXN		1,436,732	^(b)
United Mexican States, Bonds		10.000	%		12/5/24		19,610,000	^MXN		1,994,524
United Mexican States, Bonds		8.500	%		11/18/38		32,775,800	^MXN		3,090,228
United Mexican States, Bonds		7.750	%		11/13/42		51,600	^MXN		4,517
United Mexican States, Medium-Term Notes		6.050	%		1/11/40		4,000			5,020
United Mexican States, Senior Notes		5.125	%		1/15/20		100,000			113,750	^(b)
United Mexican States, Senior Notes		3.625	%		3/15/22		1,056,000			1,101,936	^(b)
United Mexican States, Senior Notes		4.000	%		10/2/23		5,460,000			5,794,425	^(d)
United Mexican States, Senior Notes		4.750	%		3/8/44		806,000			849,524	^(b)

Total Mexico										20,016,941

Nigeria - 0.2%
Republic of Nigeria, Senior Notes		5.125	%		7/12/18		400,000			414,500	^(a)
Republic of Nigeria, Senior Notes		6.375	%		7/12/23		400,000			441,080	^(c)

Total Nigeria										855,580

Pakistan - 0.5%
Republic of Pakistan, Bonds		7.250	%		4/15/19		1,740,000			1,774,800	^(c)
Republic of Pakistan, Senior Bonds		6.875	%		6/1/17		200,000			206,000	^(a)

Total Pakistan										1,980,800

Paraguay - 0.4%
Republic of Paraguay, Senior Bonds		4.625	%		1/25/23		300,000			314,250	^(a)
Republic of Paraguay, Senior Notes		6.100	%		8/11/44		1,260,000			1,354,500	^(c)

Total Paraguay										1,668,750

Peru - 4.3%
Republic of Peru, Bonds		6.550	%		3/14/37		1,620,000			2,106,000	^(b)
Republic of Peru, Global Senior Bonds		7.350	%		7/21/25		4,300,000			5,805,000
Republic of Peru, Senior Bonds		8.750	%		11/21/33		5,705,000			8,956,850	^(b)
Republic of Peru, Senior Bonds		5.625	%		11/18/50		757,000			897,045	^(b)

Total Peru										17,764,895

Poland - 2.9%
Republic of Poland, Senior Notes		6.375	%		7/15/19		1,840,000			2,190,476	^(b)
Republic of Poland, Senior Notes		5.125	%		4/21/21		3,910,000			4,435,457	^(b)
Republic of Poland, Senior Notes		5.000	%		3/23/22		4,670,000			5,256,085	^(b)

Total Poland										11,882,018

Romania - 0.1%
Republic of Romania, Senior Notes		4.875	%		1/22/24		530,000			569,750	^(c)

Russia - 4.6%
Russian Foreign Bond - Eurobond, Senior Bonds		11.000	%		7/24/18		110,000			139,040	^(a)
Russian Foreign Bond - Eurobond, Senior Bonds		12.750	%		6/24/28		617,000			1,012,941	^(a)
Russian Foreign Bond - Eurobond, Senior Bonds		7.500	%		3/31/30		12,258,075			13,667,754	^(a)
Russian Foreign Bond - Eurobond, Senior Notes		5.625	%		4/4/42		4,000,000			3,930,400	^(c)

Total Russia										18,750,135

See Notes to Schedule of Investments.

WESTERN ASSET EMERGING MARKETS INCOME FUND INC.


Schedule of investments (unaudited) (cont’d)		August 31, 2014


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
Sri Lanka - 0.9%
Republic of Sri Lanka, Senior Bonds		6.000	%		1/14/19		2,750,000		$	2,915,000	^(c)
Republic of Sri Lanka, Senior Bonds		5.125	%		4/11/19		930,000			960,225	^(c)

Total Sri Lanka										3,875,225

Turkey - 8.1%
Republic of Turkey, Notes		6.750	%		5/30/40		1,900,000			2,289,975	^(b)
Republic of Turkey, Notes		4.875	%		4/16/43		500,000			487,500	^(b)
Republic of Turkey, Senior Bonds		5.625	%		3/30/21		1,070,000			1,181,601	^(b)
Republic of Turkey, Senior Bonds		5.750	%		3/22/24		920,000			1,026,260	^(b)
Republic of Turkey, Senior Bonds		11.875	%		1/15/30		3,348,000			5,875,740	^(b)
Republic of Turkey, Senior Notes		7.500	%		7/14/17		100,000			113,867
Republic of Turkey, Senior Notes		6.875	%		3/17/36		18,390,000			22,464,304	^(b)

Total Turkey										33,439,247

Ukraine - 0.9%
Republic of Ukraine, Senior Notes		6.750	%		11/14/17		2,060,000			1,826,087	^(a)
Republic of Ukraine, Senior Notes		7.750	%		9/23/20		834,000			734,963	^(a)
Republic of Ukraine, Senior Notes		7.800	%		11/28/22		1,240,000			1,092,750	^(a)

Total Ukraine										3,653,800

Venezuela - 6.4%
Bolivarian Republic of Venezuela, Global Senior Bonds		8.500	%		10/8/14		6,694,000			6,670,571	^(b)
Bolivarian Republic of Venezuela, Senior Bonds		5.750	%		2/26/16		7,376,000			6,782,232	^(a)
Bolivarian Republic of Venezuela, Senior Bonds		9.250	%		9/15/27		815,000			645,888	^(b)
Bolivarian Republic of Venezuela, Senior Bonds		9.375	%		1/13/34		7,239,000			5,519,737	^(b)
Bolivarian Republic of Venezuela, Senior Notes		7.000	%		12/1/18		1,920,000			1,539,840	^(a)(b)
Bolivarian Republic of Venezuela, Senior Notes		7.750	%		10/13/19		5,640,000			4,497,900	^(a)
Bolivarian Republic of Venezuela, Senior Notes		7.650	%		4/21/25		933,000			655,432

Total Venezuela										26,311,600

Vietnam - 0.2%
Republic of Vietnam, Senior Bonds		6.750	%		1/29/20		570,000			649,800	^(a)

TOTAL SOVEREIGN BONDS (Cost - $230,077,548)										245,559,999

CONVERTIBLE BONDS & NOTES - 0.2%
TELECOMMUNICATION SERVICES - 0.2%
Diversified Telecommunication Services - 0.2%
Axtel SAB de CV, Senior Secured Notes, Step Bond (Cost - $829,082)		8.000	%		1/31/20		5,881,900	^MXN		877,107	^(b)(c)

CORPORATE BONDS & NOTES - 52.4%
CONSUMER DISCRETIONARY - 0.4%
Hotels, Restaurants & Leisure - 0.1%
Arcos Dorados Holdings Inc., Senior Notes		6.625	%		9/27/23		250,000			255,625	^(c)

Media - 0.3%
Grupo Televisa SAB, Senior Bonds		6.625	%		1/15/40		500,000			625,010
Myriad International Holdings BV, Senior Notes		6.000	%		7/18/20		780,000			858,156	^(c)

Total Media										1,483,166

TOTAL CONSUMER DISCRETIONARY										1,738,791

CONSUMER STAPLES - 2.5%
Food Products - 2.2%
Alicorp SAA, Senior Notes		3.875	%		3/20/23		790,000			780,283	^(b)(c)
BRF SA, Senior Notes		4.750	%		5/22/24		915,000			926,437	^(c)

See Notes to Schedule of Investments.

WESTERN ASSET EMERGING MARKETS INCOME FUND INC.


Schedule of investments (unaudited) (cont’d)		August 31, 2014


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Food Products - 2.2% (continued)
JBS Investment GmbH, Senior Notes		7.250	%		4/3/24		980,000	$	1,031,450	^(c)
Marfrig Holding Europe BV, Senior Notes		8.375	%		5/9/18		1,110,000		1,184,925	^(a)
Marfrig Holding Europe BV, Senior Notes		6.875	%		6/24/19		1,070,000		1,091,079	^(c)
Marfrig Overseas Ltd., Senior Notes		9.500	%		5/4/20		810,000		876,825	^(c)
Virgolino de Oliveira Finance Ltd., Senior Notes		10.500	%		1/28/18		400,000		298,000	^(a)
Virgolino de Oliveira Finance SA, Senior Secured Notes		10.875	%		1/13/20		2,920,000		2,810,500	^(c)

Total Food Products									8,999,499

Personal Products - 0.3%
Hypermarcas SA, Notes		6.500	%		4/20/21		1,040,000		1,132,560	^(b)(c)

TOTAL CONSUMER STAPLES									10,132,059

ENERGY - 23.1%
Energy Equipment & Services - 0.8%
Offshore Drilling Holding SA, Senior Secured Notes		8.375	%		9/20/20		1,620,000		1,765,800	^(c)
Offshore Drilling Holding SA, Senior Secured Notes		8.375	%		9/20/20		690,000		752,100	^(a)
TMK OAO Via TMK Capital SA, Senior Notes		6.750	%		4/3/20		1,130,000		1,026,888	^(c)

Total Energy Equipment & Services									3,544,788

Oil, Gas & Consumable Fuels - 22.3%
Afren PLC, Senior Secured Notes		6.625	%		12/9/20		1,930,000		1,848,361	^(c)
CNOOC Curtis Funding No. 1 Pty Ltd., Senior Notes		4.500	%		10/3/23		1,000,000		1,065,556	^(a)(b)
Dolphin Energy Ltd., Senior Secured Bonds		5.888	%		6/15/19		845,975		944,320	^(a)
Ecopetrol SA, Senior Notes		7.625	%		7/23/19		960,000		1,174,272	^(b)
Ecopetrol SA, Senior Notes		5.875	%		5/28/45		310,000		335,873
EDC Finance Ltd., Senior Notes		4.875	%		4/17/20		2,240,000		2,046,800	^(c)
GeoPark Latin America Ltd. Agencia en Chile, Senior Secured Notes		7.500	%		2/11/20		1,060,000		1,155,400	^(b)(c)
GNL Quintero SA, Senior Notes		4.634	%		7/31/29		632,000		648,725	^(c)
KazMunayGas National Co., Notes		7.000	%		5/5/20		3,400,000		3,960,660	^(a)
KazMunayGas National Co., Senior Notes		9.125	%		7/2/18		1,500,000		1,811,250	^(a)
LUKOIL International Finance BV, Bonds		6.656	%		6/7/22		2,799,000		2,882,970	^(a)
Oleoducto Central SA, Senior Notes		4.000	%		5/7/21		990,000		1,004,355	^(b)(c)
Pacific Rubiales Energy Corp., Senior Notes		5.375	%		1/26/19		4,914,000		5,122,845	^(a)(b)
Pacific Rubiales Energy Corp., Senior Notes		5.375	%		1/26/19		1,970,000		2,053,725	^(c)
Pacific Rubiales Energy Corp., Senior Notes		7.250	%		12/12/21		2,050,000		2,285,750	^(a)(b)
Pacific Rubiales Energy Corp., Senior Notes		5.125	%		3/28/23		2,100,000		2,131,500	^(b)(c)
Pan American Energy LLC, Senior Notes		7.875	%		5/7/21		484,000		509,410	^(a)
Pan American Energy LLC, Senior Notes		7.875	%		5/7/21		234,000		246,285	^(c)
Pemex Project Funding Master Trust, Senior Bonds		6.625	%		6/15/35		6,176,000		7,642,800	^(b)
Petrobras Global Finance BV, Senior Notes		4.875	%		3/17/20		3,950,000		4,112,582
Petrobras International Finance Co., Senior Notes		5.375	%		1/27/21		90,000		95,337
Petrobras International Finance Co., Senior Notes		6.875	%		1/20/40		3,710,000		4,212,705
Petroleos de Venezuela SA, Senior Notes		8.500	%		11/2/17		5,140,000		4,618,290	^(a)(b)
Petroleos Mexicanos, Notes		8.000	%		5/3/19		130,000		161,525
Petroleos Mexicanos, Notes		6.375	%		1/23/45		235,000		284,937	^(c)
Petroleos Mexicanos, Senior Notes		5.500	%		1/21/21		9,100,000		10,283,000
Petroleos Mexicanos, Senior Notes		5.500	%		6/27/44		3,140,000		3,421,815
Petroleum Co. of Trinidad & Tobago Ltd., Senior Notes		9.750	%		8/14/19		1,740,000		2,201,970	^(c)
Petronas Capital Ltd., Senior Notes		5.250	%		8/12/19		5,560,000		6,291,607	^(c)
Petronas Capital Ltd., Senior Notes		5.250	%		8/12/19		1,048,000		1,185,901	^(a)
PT Pertamina Persero, Notes		5.250	%		5/23/21		2,280,000		2,408,250	^(c)
PT Pertamina Persero, Senior Notes		4.875	%		5/3/22		830,000		852,825	^(c)
PT Pertamina Persero, Senior Notes		4.300	%		5/20/23		1,100,000		1,084,050	^(c)
Puma International Financing SA, Senior Bonds		6.750	%		2/1/21		1,920,000		1,992,384	^(c)
Ras Laffan Liquefied Natural Gas Co., Ltd. III, Senior Secured Bonds		6.750	%		9/30/19		2,149,000		2,602,976	^(a)
Reliance Holdings USA Inc., Senior Notes		4.500	%		10/19/20		2,220,000		2,347,852	^(b)(c)
Rosneft Finance SA, Senior Notes		7.500	%		7/18/16		1,140,000		1,192,725	^(a)
Rosneft Finance SA, Senior Notes		6.625	%		3/20/17		1,417,000		1,452,425	^(a)

See Notes to Schedule of Investments.

WESTERN ASSET EMERGING MARKETS INCOME FUND INC.


Schedule of investments (unaudited) (cont’d)		August 31, 2014


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - 22.3% (continued)
Rosneft Finance SA, Senior Notes		6.625	%		3/20/17		200,000	$	205,000	^(a)
Transportadora de Gas del Peru SA, Senior Notes		4.250	%		4/30/28		1,870,000		1,811,469	^(b)(c)

Total Oil, Gas & Consumable Fuels									91,690,482

TOTAL ENERGY									95,235,270

FINANCIALS - 0.1%
Real Estate Management & Development - 0.1%
Agile Property Holdings Ltd., Senior Notes		8.875	%		4/28/17		390,000		407,550	^(a)(b)

INDUSTRIALS - 3.2%
Building Products - 0.4%
GTL Trade Finance Inc., Senior Notes		7.250	%		4/16/44		900,000		949,500	^(c)
Rearden G Holdings EINS GmbH, Senior Notes		7.875	%		3/30/20		810,000		863,460	^(c)

Total Building Products									1,812,960

Construction & Engineering - 2.0%
Empresas ICA SAB de CV, Senior Notes		8.875	%		5/29/24		3,118,000		3,220,943	^(b)(c)
OAS Finance Ltd., Senior Notes		8.000	%		7/2/21		960,000		969,600	^(c)
OAS Investments GmbH, Senior Notes		8.250	%		10/19/19		1,020,000		1,058,250	^(c)
Odebrecht Finance Ltd., Senior Notes		4.375	%		4/25/25		1,340,000		1,314,473	^(c)
Odebrecht Finance Ltd., Senior Notes		5.250	%		6/27/29		1,079,000		1,104,626	^(c)
Odebrecht Offshore Drilling Finance Ltd., Senior Secured Notes		6.625	%		10/1/22		370,838		397,078	^(c)

Total Construction & Engineering									8,064,970

Industrial Conglomerates - 0.6%
Alfa SAB de CV, Senior Notes		5.250	%		3/25/24		290,000		313,925	^(c)
Alfa SAB de CV, Senior Notes		6.875	%		3/25/44		300,000		339,000	^(c)
Sinochem Overseas Capital Co., Ltd., Senior Notes		4.500	%		11/12/20		1,765,000		1,890,449	^(b)(c)

Total Industrial Conglomerates									2,543,374

Transportation Infrastructure - 0.2%
Mersin Uluslararasi Liman Isletmeciligi AS, Notes		5.875	%		8/12/20		750,000		804,450	^(b)(c)

TOTAL INDUSTRIALS									13,225,754

MATERIALS - 14.6%
Chemicals - 2.5%
Alpek SA de CV, Senior Notes		4.500	%		11/20/22		1,990,000		2,039,750	^(b)(c)
Braskem Finance Ltd., Senior Notes		7.000	%		5/7/20		128,000		144,960	^(a)
Grupo Idesa SA de CV, Senior Notes		7.875	%		12/18/20		3,750,000		4,068,750	^(a)
Mexichem SAB de CV, Senior Notes		4.875	%		9/19/22		1,298,000		1,385,615	^(a)
Mexichem SAB de CV, Senior Notes		4.875	%		9/19/22		930,000		992,775	^(b)(c)
OCP SA, Senior Notes		5.625	%		4/25/24		1,650,000		1,749,000	^(c)

Total Chemicals									10,380,850

Construction Materials - 2.6%
Cementos Pacasmayo SAA, Senior Notes		4.500	%		2/8/23		890,000		852,175	^(b)(c)
Cementos Pacasmayo SAA, Senior Notes		4.500	%		2/8/23		250,000		239,375	^(a)
Cemex Finance LLC, Senior Secured Notes		9.375	%		10/12/22		3,380,000		4,005,300	^(a)(b)
Cemex Finance LLC, Senior Secured Notes		9.375	%		10/12/22		2,710,000		3,211,350	^(b)(c)
Cemex SAB de CV, Senior Secured Notes		6.500	%		12/10/19		1,540,000		1,636,250	^(b)(c)
Cimpor Financial Operations BV, Senior Notes		5.750	%		7/17/24		750,000		740,625	^(c)

Total Construction Materials									10,685,075

Containers & Packaging - 0.1%
Suzano Trading Ltd., Senior Notes		5.875	%		1/23/21		200,000		211,500	^(c)

Metals & Mining - 8.3%
AngloGold Ashanti Holdings PLC, Senior Notes		8.500	%		7/30/20		829,000		933,661
CSN Resources SA, Senior Bonds		6.500	%		7/21/20		1,020,000		1,072,020	^(b)(c)
CSN Resources SA, Senior Bonds		6.500	%		7/21/20		998,000		1,048,898	^(a)
Evraz Group SA, Notes		9.500	%		4/24/18		810,000		839,225	^(c)
Evraz Group SA, Notes		6.750	%		4/27/18		515,000		484,100	^(c)
Evraz Group SA, Senior Notes		9.500	%		4/24/18		1,180,000		1,222,574	^(a)

See Notes to Schedule of Investments.

WESTERN ASSET EMERGING MARKETS INCOME FUND INC.


Schedule of investments (unaudited) (cont’d)		August 31, 2014


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Metals & Mining - 8.3% (continued)
Evraz Group SA, Senior Notes		6.500	%		4/22/20		1,670,000	$	1,494,650	^(c)
Samarco Mineracao SA, Senior Notes		4.125	%		11/1/22		2,150,000		2,073,675	^(b)(c)
Severstal OAO Via Steel Capital SA, Senior Notes		4.450	%		3/19/18		1,200,000		1,158,000	^(c)
Southern Copper Corp., Senior Notes		5.375	%		4/16/20		800,000		896,704
Southern Copper Corp., Senior Notes		7.500	%		7/27/35		100,000		123,248
Southern Copper Corp., Senior Notes		6.750	%		4/16/40		3,160,000		3,689,300
Southern Copper Corp., Senior Notes		5.250	%		11/8/42		700,000		685,195
Tupy Overseas SA, Senior Bonds		6.625	%		7/17/24		540,000		561,870	^(c)
Vale Overseas Ltd., Notes		8.250	%		1/17/34		5,596,000		7,451,242	^(b)
Vale Overseas Ltd., Notes		6.875	%		11/21/36		3,349,000		3,964,714	^(b)
Vedanta Resources PLC, Senior Notes		6.750	%		6/7/16		1,630,000		1,717,205	^(b)(c)
Vedanta Resources PLC, Senior Notes		9.500	%		7/18/18		360,000		421,200	^(a)
Vedanta Resources PLC, Senior Notes		6.000	%		1/31/19		3,400,000		3,553,000	^(b)(c)
Vedanta Resources PLC, Senior Notes		6.000	%		1/31/19		710,000		738,400	^(a)

Total Metals & Mining									34,128,881

Paper & Forest Products - 1.1%
Celulosa Arauco y Constitucion SA, Senior Notes		7.250	%		7/29/19		352,000		415,965
Celulosa Arauco y Constitucion SA, Senior Notes		4.750	%		1/11/22		625,000		648,879
Fibria Overseas Finance Ltd., Senior Notes		5.250	%		5/12/24		330,000		330,000
Inversiones CMPC SA, Notes		4.750	%		1/19/18		1,020,000		1,084,448	^(b)(c)
Inversiones CMPC SA, Notes		4.375	%		5/15/23		690,000		688,971	^(c)
Inversiones CMPC SA, Senior Notes		4.500	%		4/25/22		790,000		795,465	^(b)(c)
Klabin Finance SA, Senior Notes		5.250	%		7/16/24		640,000		635,360	^(c)

Total Paper & Forest Products									4,599,088

TOTAL MATERIALS									60,005,394

TELECOMMUNICATION SERVICES - 5.2%
Diversified Telecommunication Services - 3.3%
Axtel SAB de CV, Senior Secured Notes, Step Bond		8.000	%		1/31/20		5,159,000		5,365,360	^(b)(c)
Axtel SAB de CV, Senior Secured Notes, Step Bond		8.000	%		1/31/20		330,000		343,200	^(a)
Bharti Airtel International Netherlands BV, Senior Bonds		5.350	%		5/20/24		950,000		1,024,784	^(c)
Empresa Nacional de Telecomunicaciones S.A., Senior Notes		4.875	%		10/30/24		950,000		987,932	^(b)(c)
Ooredoo International Finance Ltd., Senior Notes		4.750	%		2/16/21		910,000		998,725	^(c)
Telemar Norte Leste SA, Senior Notes		5.500	%		10/23/20		1,260,000		1,247,400	^(b)(c)
Turk Telekomunikasyon AS, Senior Bonds		3.750	%		6/19/19		1,240,000		1,241,519	^(b)(c)
Turk Telekomunikasyon AS, Senior Notes		4.875	%		6/19/24		880,000		873,400	^(c)
UBS Luxembourg SA for OJSC Vimpel Communications, Loan Participation Notes		8.250	%		5/23/16		925,000		967,781	^(a)
UBS Luxembourg SA for OJSC Vimpel Communications, Loan Participation Notes		8.250	%		5/23/16		297,000		310,736	^(a)

Total Diversified Telecommunication Services									13,360,837

Wireless Telecommunication Services - 1.9%
Indosat Palapa Co. BV, Senior Notes		7.375	%		7/29/20		1,270,000		1,373,187	^(c)
VimpelCom Holdings BV, Senior Notes		6.255	%		3/1/17		1,110,000		1,101,053	^(a)
VimpelCom Holdings BV, Senior Notes		7.504	%		3/1/22		650,000		645,964	^(a)
VimpelCom Holdings BV, Senior Notes		5.950	%		2/13/23		5,250,000		4,757,025	^(a)

Total Wireless Telecommunication Services									7,877,229

TOTAL TELECOMMUNICATION SERVICES									21,238,066

UTILITIES - 3.3%
Electric Utilities - 1.2%
Centrais Eletricas Brasileiras SA, Senior Notes		6.875	%		7/30/19		385,000		430,238	^(c)
Centrais Eletricas Brasileiras SA, Senior Notes		5.750	%		10/27/21		575,000		598,288	^(a)
Comision Federal de Electricidad, Senior Notes		4.875	%		1/15/24		780,000		840,450	^(c)
Majapahit Holding BV, Senior Notes		7.750	%		1/20/20		1,970,000		2,331,987	^(a)
State Grid Overseas Investment 2013 Ltd., Senior Bonds		3.125	%		5/22/23		750,000		738,358	^(b)(c)

Total Electric Utilities									4,939,321

See Notes to Schedule of Investments.

WESTERN ASSET EMERGING MARKETS INCOME FUND INC.


Schedule of investments (unaudited) (cont’d)		August 31, 2014


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Gas Utilities - 1.1%
Empresa de Energia de Bogota SA, Senior Notes		6.125	%		11/10/21		860,000	$	937,228	^(b)(c)
Gas Natural de Lima y Callao SA, Senior Notes		4.375	%		4/1/23		1,110,000		1,110,000	^(b)(c)
Transportadora de Gas del Peru SA, Senior Notes		4.250	%		4/30/28		350,000		339,045	^(a)
Transportadora de Gas del Sur SA, Senior Notes		9.625	%		5/14/20		637,500		634,313	^(a)
Transportadora de Gas Internacional SA ESP, Senior Notes		5.700	%		3/20/22		1,270,000		1,371,600	^(b)(c)

Total Gas Utilities									4,392,186

Independent Power and Renewable Electricity Producers - 0.8%
AES Gener SA, Notes		5.250	%		8/15/21		1,000,000		1,067,105	^(b)(c)
Colbun SA, Senior Notes		6.000	%		1/21/20		1,660,000		1,852,180	^(b)(c)
Empresa Nacional de Electricidad SA, Senior Notes		4.250	%		4/15/24		500,000		509,522

Total Independent Power and Renewable Electricity Producers									3,428,807

Multi-Utilities - 0.2%
Empresas Publicas de Medellin ESP, Senior Notes		7.625	%		7/29/19		870,000		1,046,175	^(b)(c)

TOTAL UTILITIES									13,806,489

TOTAL CORPORATE BONDS & NOTES (Cost - $206,511,467)									215,789,373


				EXPIRATION DATE		WARRANTS
WARRANTS - 0.1%
Bolivarian Republic of Venezuela, Oil-linked payment obligations (Cost - $356,500)					4/15/20		11,500		258,750

TOTAL INVESTMENTS - 112.3% (Cost - $437,774,597#)									462,485,229
Liabilities in Excess of Other Assets - (12.3)%									(50,756,595	)

TOTAL NET ASSETS - 100.0%								$	411,728,634

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

(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, unless otherwise noted.

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

(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.

#	Aggregate cost for federal income tax purposes is substantially the same.


Abbreviations used in this schedule:

BRL		— Brazilian Real
MXN		— Mexican Peso
OJSC		— Open Joint Stock Company

See Notes to Schedule of Investments.

WESTERN ASSET EMERGING MARKETS INCOME FUND INC.


Schedule of investments (unaudited) (cont’d)		August 31, 2014


Summary of Investments by Country (unaudited)**

Mexico	17.1	%
Brazil	13.3
Russia	8.8
Turkey	7.9
Colombia	7.5
Indonesia	7.2
Venezuela	6.7
Peru	4.9
Chile	3.8
Poland	2.6
Argentina	2.3
India	2.1
Hungary	1.8
Malaysia	1.6
Croatia	1.3
Kazakhstan	1.2
Lithuania	1.0
China	0.9
Sri Lanka	0.8
Ukraine	0.8
Qatar	0.8
Ivory Coast	0.5
Ecuador	0.5
Trinidad and Tobago	0.5
Singapore	0.4
Pakistan	0.4
United Kingdom	0.4
Costa Rica	0.4
South Africa	0.4
Morocco	0.4
Paraguay	0.4
Gabon	0.3
Kenya	0.3
United Arab Emirates	0.2
Nigeria	0.2
Angola	0.1
Vietnam	0.1
Romania	0.1

	100.0	%

**	As a percentage of total investments. Please note that the Fund holdings are as of August 31, 2014 and are subject to change.

See Notes to Schedule of Investments.

Notes to Schedule of Investments (unaudited)

1. Organization and significant accounting policies

Western Asset Emerging Markets Income Fund Inc. (the “Fund”) was incorporated in Maryland 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 Fund’s primary investment objective is to seek high current income. As a secondary objective, the Fund seeks capital appreciation. In pursuit of these objectives, the Fund, under normal conditions, invests at least 80% of its net assets plus any borrowings for investment purposes in debt securities of government and government related issuers located in emerging market countries (including participations in loans between governments and financial institutions), and of entities organized to restructure the outstanding debt of such issuers, and in debt securities of corporate issuers located in emerging market countries.

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 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. Short-term fixed income securities that will mature in 60 days or less are valued at amortized cost, unless it is determined that using this method would not reflect an investment’s fair value. 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 Legg Mason North American Fund Valuation Committee (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 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.

Notes to Schedule of Investments (unaudited) (continued)

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)

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 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		—	$	245,559,999		—	$	245,559,999
Convertible bonds & notes		—		877,107		—		877,107
Corporate bonds & notes		—		215,789,373		—		215,789,373
Warrants		—		258,750		—		258,750

Total investments		—	$	462,485,229		—	$	462,485,229

Other financial instruments:
Forward foreign currency contracts		—	$	1,524		—	$	1,524

Total		—	$	462,486,753		—	$	462,486,753

†	See Schedule of Investments for additional detailed categorizations.

(b) Repurchase agreements. The Fund may enter into repurchase agreements with institutions that its investment adviser has determined are creditworthy. Each repurchase agreement is recorded at cost. Under the terms of a typical repurchase agreement, the Fund acquires a debt security subject to an obligation of the seller to repurchase, and of the Fund to resell, the security at an agreed-upon price and time, thereby determining the yield during the Fund’s holding period. When entering into repurchase agreements, it is the Fund’s policy that its custodian or a third party custodian, acting on the Fund’s behalf, 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 maturity exceeds one business day, the value of the collateral is marked-to-market and measured against the value of the agreement in an effort to ensure the adequacy of the collateral. If the counterparty defaults, the Fund generally has the right to use the collateral to satisfy the terms of the repurchase transaction. However, if the market value of the collateral declines during the period in which the Fund seeks to assert its rights 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 reverse repurchase agreements. Under the terms of a typical reverse repurchase agreement, a fund sells a security subject to an obligation to repurchase the security from the buyer at an agreed-upon time and price. In the event the buyer of securities under a reverse repurchase agreement files for bankruptcy or becomes insolvent, the Fund’s use of the proceeds of the agreement may be restricted pending a determination by the counterparty, or its trustee or receiver, whether to enforce the Fund’s obligation to repurchase the securities. In entering into reverse repurchase agreements, the Fund will maintain cash, U.S. government securities or other liquid debt obligations at least equal in value to its obligations with respect to reverse repurchase agreements or will take other actions permitted by law to cover its obligations. Interest payments made on reverse repurchase agreements are recognized as a component of “Interest expense”. In periods of increased demand for the security, the Fund may receive a fee for use of the security by the counterparty, which may result in interest income to the Fund.

(d) Loan participations. The Fund may invest in loans arranged through private negotiation between one or more financial institutions. The Fund’s investment in any such loan may be in the form of a participation in or an assignment of the loan. In connection with purchasing participations, the Fund generally will have no right to enforce compliance by the borrower with the terms of the loan agreement related to the loan, or any rights of off-set against the borrower and the Fund may not benefit directly from any collateral supporting the loan in which it has purchased the participation.

The Fund assumes the credit risk of the borrower, the lender that is selling the participation and any other persons interpositioned between the Fund and the borrower. In the event of the insolvency of the lender selling the participation, the Fund may be treated as a general creditor of the lender and may not benefit from any off-set between the lender and the borrower.

Notes to Schedule of Investments (unaudited) (continued)

(e) Forward foreign currency contracts. The Fund enters 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 recognizes 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 is closed.

When entering into a forward foreign currency contract, 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.

(f) 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 on 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.

(g) 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 investments in securities rated below investment grade typically involve 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 investments in non-U.S. dollar denominated securities may also result in foreign currency losses caused by devaluations and exchange rate fluctuations.

(h) Foreign investment risks. The Fund’s investments in foreign securities may involve risks not present in domestic investments. Since securities may be denominated in foreign currencies, may require settlement in foreign currencies or pay interest or dividends in foreign currencies, changes in the relationship of these foreign currencies to the U.S. dollar can significantly affect the value of the investments and earnings of the Fund. Foreign investments may also subject the Fund to foreign government exchange restrictions, expropriation, taxation or other political, social or economic developments, all of which affect the market and/or credit risk of the investments.

(i) Counterparty risk and credit-risk-related contingent features of derivative instruments. The Fund may invest in certain securities or engage in other transactions, where the Fund is exposed to counterparty credit risk in addition to broader market risks. The Fund may invest in securities of issuers, which may also be considered counterparties as trading partners in other transactions. This may increase the risk of loss in the event of default or bankruptcy by the counterparty or if the counterparty otherwise fails to meet its contractual obligations. The Fund’s investment manager attempts to mitigate counterparty risk by (i) periodically assessing the creditworthiness of its trading partners, (ii) monitoring and/or limiting the amount of its net exposure to each individual counterparty based on its assessment and (iii) requiring collateral from the counterparty for certain transactions. Market events and changes in overall economic conditions may impact the assessment of such counterparty risk by the investment manager. In addition, declines in the values of underlying collateral received may expose the Fund to increased risk of loss.

The Fund has entered into master agreements with certain of its derivative counterparties that provide for general obligations, representations, agreements, collateral, events of default or termination and credit related contingent features. The credit related contingent features include, but are not limited to, a percentage decrease in the Fund’s net assets or NAV over a specified period of time. If these credit related contingent features were triggered, the derivatives counterparty could terminate the positions and demand payment or require additional collateral.

Collateral requirements differ by type of derivative. Collateral or margin requirements are set by the broker or exchange clearinghouse for exchange traded derivatives while collateral terms are contract specific for over-the-counter traded derivatives. Securities pledged as collateral, if any, to cover the obligations of the Fund under derivative contracts, are noted in the Schedule of Investments.

As of August 31, 2014, the Fund did not have any open derivative transactions with credit related contingent features in a net liability position.

Notes to Schedule of Investments (unaudited) (continued)

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

2. Investments

At August 31, 2014, the aggregate gross unrealized appreciation and depreciation of investments for federal income tax purposes were substantially as follows:


Gross unrealized appreciation	$	36,771,031
Gross unrealized depreciation		(12,060,399	)

Net unrealized appreciation	$	24,710,632

Transactions in reverse repurchase agreements for the Fund during the period ended August 31, 2014 were as follows:

Average

Daily

Balance*

Weighted

Average

Interest Rate*

Maximum

Amount

Outstanding

$4,358,341

0.49%

$7,455,148

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

Interest rates on reverse repurchase agreements ranged from 0.45% to 0.55% during the period ended August 31, 2014. Interest expense incurred on reverse repurchase agreements totaled $5,347.

At August 31, 2014, the Fund had the following open reverse repurchase agreements:


Counterparty	Rate			Effective Date		Maturity Date			Face Amount of Reverse Repurchase Agreements
JPMorgan Chase & Co.		0.450	%		7/28/2014		TBD	*	$	1,911,735
JPMorgan Chase & Co.		0.450	%		3/5/2014		TBD	*		1,239,138
JPMorgan Chase & Co.		0.550	%		7/28/2014		TBD	*		1,286,607

									$	4,437,480

*	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.

On August 31, 2014, the total market value of underlying collateral (refer to the Schedule of Investments for positions held at the counterparty as collateral for reverse repurchase agreements) for open reverse repurchase agreements was $5,297,377.

At August 31, 2014, the Fund had the following open forward foreign currency contracts:

Foreign Currency

Counterparty

Local

Currency

Market
Value

Settlement
Date

Unrealized

Appreciation

Contracts to Sell:

Brazilian Real

Citibank, N.A.

10,121,170

4,467,970

10/15/14

$ 1,524

3. Derivative instruments and hedging activities

GAAP requires enhanced disclosure about an entity’s derivative and hedging activities.

The following is a summary of the Fund’s derivative instruments categorized by risk exposure at August 31, 2014.


	Forward Foreign Currency Contracts
Primary Underlying Risk	Unrealized Appreciation
Foreign Exchange Risk	$	1,524

Notes to Schedule of Investments (unaudited) (continued)

During the period ended August 31, 2014, the volume of derivative activity for the Fund was as follows:


	Average Market Value
Forward foreign currency contracts (to buy) †	$	6,065,401
Forward foreign currency contracts (to sell)		12,300,167

†	At August 31, 2014, there were no open positions held in this derivative.

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.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Western Asset Emerging Markets Income Fund Inc.


By		/s/ KENNETH D. FULLER
		Kenneth D. Fuller
		Chief Executive Officer

Date:		October 22, 2014

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.



By		/s/ KENNETH D. FULLER
		Kenneth D. Fuller
		Chief Executive Officer

Date:		October 22, 2014

By		/s/ RICHARD F. SENNETT
		Richard F. Sennett
		Principal Financial Officer

Date:		October 22, 2014