Edgar Filing: ABERDEEN GLOBAL INCOME FUND INC

Aberdeen Global 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:		811-06342

Exact name of registrant as specified in charter:		Aberdeen Global Income Fund, Inc.

Address of principal executive offices:		Aberdeen Asset Management Inc. 1735 Market Street 32^nd Floor Philadelphia, PA 19103

Name and address of agent for service:		Ms. Andrea Melia Aberdeen Asset Management Inc. 1735 Market Street 32^nd Floor Philadelphia, PA 19103

Registrant’s telephone number, including area code:		1-866-839-5233

Date of fiscal year end:		October 31

Date of reporting period:		January 31, 2011

Item 1 – Schedule of Investments

Portfolio of Investments

As of January 31, 2011 (unaudited)


Principal Amount (000)	Description			Value (US$)
LONG-TERM FIXED INCOME INVESTMENTS - 127.2%
ARGENTINA - 1.5%
			Republic of Argentina,
ARS		1,700	2.00%, 2/04/18 (a)	$	994,434
			Republic of Argentina,
USD		760	7.00%, 4/17/17		665,760

					1,660,194

AUSTRALIA - 25.5%
			Australia Government Bond,
AUD		1,500	4.50%, 10/21/14		1,463,449
			Australia Government Bond,
AUD		5,600	4.75%, 11/15/12		5,567,565
			Australia Government Bond,
AUD		2,000	5.50%, 12/15/13		2,018,532
			Australia Government Bond,
AUD		4,660	5.75%, 7/15/22		4,709,959
			CFS Retail Property Trust,
AUD		500	6.25%, 12/22/14		485,200
			Commonwealth Bank of Australia,
AUD		500	5.75%, 12/17/13		500,134
			Commonwealth Bank of Australia,
AUD		1,000	8.50%, 6/24/11		1,009,535
			Eurofima,
AUD		200	6.00%, 1/28/14		201,014
			HSBC Bank Australia Ltd.,
AUD		1,500	5.23%, 5/20/11 (a)(b)		1,488,203
			Kommunalbanken AS,
AUD		500	6.375%, 3/30/12		503,317
			Macquarie Bank Ltd.,
AUD		500	6.50%, 5/31/12 (a)(b)		487,218
			Monumental Global Funding Ltd.,
AUD		500	6.50%, 11/08/11		498,121
			National Capital Trust III,
AUD		500	5.99%, 9/30/16 (a)(b)		431,277
			Queensland Treasury Corp.,
AUD		745	6.00%, 10/14/15		757,546
			Queensland Treasury Corp.,
AUD		1,700	6.00%, 4/21/16		1,705,621
			Queensland Treasury Corp.,
AUD		500	6.25%, 6/14/19		510,941
			Royal Bank of Scotland NV,
AUD		500	6.50%, 5/17/13 (a)(b)		390,548
			Royal Womens Hospital Finance Pty Ltd.,
AUD		500	6.20%, 3/26/17 (a)		449,045
			St. George Bank Ltd.,
AUD		1,500	10.00%, 5/09/13 (a)(b)		1,598,954
			The Goldman Sachs Group,
AUD		500	6.35%, 4/12/16		473,516
			Treasury Corp. of Victoria,
AUD		2,050	5.75%, 11/15/16		2,044,705
			Treasury Corp. of Victoria,
AUD		50	6.00%, 6/15/20		49,699
			Volkswagen Financial Services Australia Pty Ltd.,
AUD		500	7.00%, 6/24/11		500,388
			Wesfarmers Ltd.,
AUD		500	8.25%, 9/11/14		518,415
			Westpac Banking Corp.,
AUD		700	8.25%, 4/18/11		702,133

					29,065,035

BELARUS - 0.6%
			Republic of Belarus,
USD		220	8.75%, 8/03/15 (c)		218,570
			Republic of Belarus,
USD		450	8.95%, 1/26/18 (c)		434,250

					652,820

BRAZIL - 3.7%
			Brazil Notas do Tesouro Nacional Serie F,
BRL		430	10.00%, 1/01/13		247,888
			Brazil Notas do Tesouro Nacional Serie F,
BRL		1,710	10.00%, 1/01/17		923,171
			Brazil Notas do Tesouro Nacional Serie F,
BRL		1,950	10.00%, 1/01/21		1,006,484
			Gerdau Trade, Inc.,
USD		350	5.75%, 1/30/21 (c)		350,875
			Globo Comunicacao e Participacoes SA,
USD		490	6.25%, 7/20/15 (a)(b)(c)		512,662
			Odebrecht Finance Ltd.,
USD		220	7.50%, 9/14/15 (b)(c)		221,925
			Petrobras International Finance Co.,
USD		130	5.375%, 1/27/21		130,747
			Rearden G Holdings EINS GmbH,
USD		440	7.875%, 3/30/15 (b)(c)		463,100
			Virgolino de Oliveira Finance Ltd.,
USD		400	10.50%, 1/28/15 (c)		402,000

					4,258,852

CANADA - 17.5%
			Canadian Government Bond,
CAD		2,000	8.00%, 6/01/23		2,893,554
			Canadian Government Bond,
CAD		2,000	9.00%, 6/01/25		3,210,086
			Canadian Government Bond,
CAD		3,000	10.25%, 3/15/14		3,737,125
			Hydro Quebec,
CAD		2,000	9.625%, 7/15/22		2,970,290
			Ontario Electricity Financial Corp.,
CAD		500	8.50%, 5/26/25		716,068

See Notes to Portfolio of Investments.

Aberdeen Global Income Fund, Inc.

Portfolio of Investments (continued)

As of January 31, 2011 (unaudited)


Principal Amount (000)	Description			Value (US$)
LONG-TERM FIXED INCOME INVESTMENTS (continued)
CANADA (continued)
			Province of British Columbia,
CAD		2,000	9.50%, 1/09/12	$	2,147,401
			Province of Manitoba,
NZD		1,000	6.375%, 9/01/15		808,699
			Province of New Brunswick,
CAD		2,000	7.75%, 1/13/14		2,294,177
			Province of Ontario,
NZD		1,500	6.25%, 6/16/15		1,208,137

					19,985,537

CHINA - 2.4%
			CFG Investment SAC,
USD		320	9.25%, 3/10/11 (b)(c)		335,200
			China Forestry Holdings Ltd.,
USD		500	7.75%, 11/17/13 (c)		363,750
			China Overseas Finance Cayman Island II Ltd.,
USD		500	5.50%, 11/10/20 (c)		489,451
			Parkson Retail Group Ltd.,
USD		310	7.875%, 11/14/11		321,755
			Sinochem Overseas Capital Co. Ltd.,
USD		1,000	4.50%, 11/12/20 (c)		974,461
			Texhong Textile Group Ltd.,
USD		200	7.625%, 1/19/16 (c)		202,310

					2,686,927

COLOMBIA - 0.4%
			Colombia Government International Bond,
USD		400	7.375%, 3/18/19		481,000

DOMINICAN REPUBLIC - 1.3%
			AES Andres Dominicana,
USD		250	9.50%, 11/12/15 (c)		266,250
			Dominican Republic International Bond,
USD		710	7.50%, 5/06/21 (c)		747,275
			Dominican Republic International Bond,
USD		400	8.625%, 4/20/27 (c)		432,000

					1,445,525

EL SALVADOR - 1.3%
			El Salvador Government International Bond,
USD		700	7.65%, 6/15/35 (c)		714,000
			El Salvador Government International Bond,
USD		320	8.25%, 4/10/32 (c)		353,600
			Telemovil Finance Co. Ltd.,
USD		450	8.00%, 10/01/14 (b)		468,000

					1,535,600

FRANCE - 0.8%
			AXA SA,
AUD		500	7.50%, 10/26/16 (a)(b)		405,342
			Cie de Financement Foncier,
AUD		500	6.25%, 1/30/17		472,763

					878,105

GERMANY - 1.5%
			Kreditanstalt fuer Wiederaufbau,
AUD		1,700	7.50%, 8/26/11		1,717,480


HUNGARY - 0.8%
			Hungary Government Bond,
HUF		50,420	5.50%, 2/12/16		235,562
			Hungary Government Bond,
HUF		144,110	6.00%, 10/24/12		716,350

					951,912

INDONESIA - 2.9%
			Adaro Indonesia PT,
USD		100	7.625%, 10/22/14 (c)(b)		109,500
			Indonesia Treasury Bond,
IDR		600,000	9.50%, 7/15/31		62,721
			Indonesia Treasury Bond,
IDR		3,800,000	10.00%, 7/15/17		453,515
			Indonesia Treasury Bond,
IDR		2,900,000	10.50%, 8/15/30		330,940
			Indonesia Treasury Bond,
IDR		10,250,000	10.75%, 5/15/16		1,254,304
			Indosat Palapa Co. BV,
USD		200	7.375%, 7/29/15 (b)(c)		221,000
			Majapahit Holding BV,
USD		330	7.75%, 10/17/16 (c)		374,248
			Star Energy Geothermal Wayang Windu Ltd.,
USD		400	11.50%, 2/12/13 (b)(c)		457,000

					3,263,228

KAZAKHSTAN - 1.6%
			Development Bank of Kazakhstan JSC,
USD		200	5.50%, 12/20/15 (c)		201,500
			Halyk Savings Bank of Kazakhstan JSC,
USD		250	7.25%, 1/28/21 (c)		245,625

See Notes to Portfolio of Investments.

Aberdeen Global Income Fund, Inc.

Portfolio of Investments (continued)

As of January 31, 2011 (unaudited)


Principal Amount (000)	Description			Value (US$)
LONG-TERM FIXED INCOME INVESTMENTS (continued)
KAZAKHSTAN (continued)
			Kazakhstan Temir Zholy Finance BV,
USD		200	6.375%, 10/06/20 (c)	$	209,500
			Kazakhstan Temir Zholy Finance BV,
USD		480	6.50%, 5/11/11		484,800
			KazMunayGas National Co.,
USD		450	6.375%, 4/09/21 (c)		451,125
			KazMunayGas National Co.,
USD		270	7.00%, 5/05/20 (c)		284,850

					1,877,400

LITHUANIA - 1.0%
			Lithuania Government International Bond,
USD		880	6.75%, 1/15/15 (c)		945,560
			Lithuania Government International Bond,
USD		150	7.375%, 2/11/20 (c)		164,625

					1,110,185

MALAYSIA - 0.8%
			Malaysian Government Bond,
MYR		2,000	4.012%, 9/15/17		664,907
			Petronas Capital Ltd.,
USD		210	7.875%, 5/22/22 (c)		270,738

					935,645

MEXICO - 4.8%
			Corporacion GEO SAB de CV,
USD		435	8.875%, 9/25/14 (c)		486,656
			Corporacion GEO SAB de CV,
USD		220	9.25%, 6/30/15 (b)(c)		248,325
			Mexican Fixed Rate Bonds,
MXN		6,900	7.25%, 12/15/16		586,423
			Mexican Fixed Rate Bonds,
MXN		5,300	7.75%, 12/14/17		460,577
			Mexican Fixed Rate Bonds,
MXN		7,900	8.00%, 6/11/20		686,977
			Mexico Government International Bond,
USD		2,100	6.05%, 1/11/40		2,147,250
			Pemex Project Funding Master Trust,
USD		230	5.75%, 3/01/18		244,388
			Pemex Project Funding Master Trust,
USD		240	6.625%, 6/15/38		240,277
			Petroleos Mexicanos,
USD		400	5.50%, 1/21/21		403,400

					5,504,273

NETHERLANDS - 1.3%
			GTB Finance BV,
USD		450	8.50%, 1/29/12		462,937
			ING Bank Australia Ltd.,
AUD		1,000	7.00%, 4/24/12		1,003,247

					1,466,184

NEW ZEALAND - 19.2%
			ANZ National Bank Ltd.,
NZD		3,000	7.60%, 3/02/12 (a)(b)		2,359,851
			Auckland Healthcare Services Ltd.,
NZD		1,000	7.75%, 9/15/15		835,373
			Council of Europe Development Bank,
NZD		1,000	7.75%, 11/15/11		796,040
			Deutsche Bank AG,
NZD		2,000	4.0814%, 6/16/11 (a)(b)		1,490,693
			Inter-American Development Bank,
NZD		700	6.00%, 12/15/17		559,251
			Landwirtschaftliche Rentenbank,
NZD		1,000	7.75%, 4/15/13		824,145
			New Zealand Government Bond,
NZD		7,750	6.00%, 12/15/17		6,287,186
			New Zealand Government Bond,
NZD		2,910	6.50%, 4/15/13		2,366,868
			Powerco Ltd.,
NZD		1,000	6.39%, 3/29/13		778,854
			Rabobank Nederland NV,
NZD		3,000	6.25%, 11/22/11		2,356,689
			Telstra Corp. Ltd.,
NZD		1,000	7.15%, 11/24/14		806,758
			Total Capital SA,
NZD		3,000	6.50%, 7/20/12		2,392,731

					21,854,439

PERU - 0.6%
			Peruvian Government International Bond,
USD		730	5.625%, 11/18/50		680,725

PHILIPPINES - 1.2%
			Philippine Government International Bond,
USD		850	6.375%, 10/23/34		892,500
			Philippine Government International Bond,
USD		40	8.375%, 6/17/19		50,900
			SM Investments Corp.,
USD		443	5.50%, 10/13/17		431,708

					1,375,108

See Notes to Portfolio of Investments.

Aberdeen Global Income Fund, Inc.

Portfolio of Investments (continued)

As of January 31, 2011 (unaudited)


Principal Amount (000)	Description			Value (US$)
LONG-TERM FIXED INCOME INVESTMENTS (continued)
POLAND - 0.1%
			Poland Government Bond,
PLN		450	5.75%, 9/23/22	$	147,435

QATAR - 1.2%
			Qatar Government International Bond,
USD		270	5.25%, 1/20/20 (c)		284,850
			Qatar Government International Bond,
USD		580	6.40%, 1/20/40 (c)		611,900
			Qatari Diar Finance QSC,
USD		450	5.00%, 7/21/20 (c)		447,646

					1,344,396

RUSSIA - 2.2%
			Alfa Bank OJSC Via Alfa Bond Issuance PLC,
USD		350	7.875%, 9/25/17 (c)		358,750
			Novatek Finance Ltd.,
USD		350	6.604%, 2/03/21 (c)		350,543
			Russian Foreign Bond-Eurobond,
USD		582	7.50%, 3/31/30 (c)		666,685
			Russian Railways,
USD		107	5.739%, 4/03/17		110,210
			Severstal OAO Via Steel Capital SA,
USD		380	6.70%, 10/25/17 (c)		375,250
			Vimpel Communications Via VIP Finance Ireland Ltd.
USD		200	OJSC, 6.493%, 2/02/16 (c)		200,750
			Vnesheconombank Via VEB Finance Ltd,
USD		450	6.902%, 7/09/20 (c)		463,500

					2,525,688

SOUTH AFRICA - 2.6%
			Eskom Holdings Ltd.,
USD		1,000	5.75%, 1/26/21 (c)		975,000
			South Africa Government Bond,
ZAR		3,100	8.25%, 9/15/17		428,419
			South Africa Government Bond,
ZAR		8,390	10.50%, 12/21/26		1,341,869
			South Africa Government International Bond,
USD		160	5.50%, 3/09/20		164,800

					2,910,088

SUPRANATIONAL - 0.6%
			International Bank for Reconstruction & Development,
NZD		750	7.50%, 7/30/14		631,432

TURKEY - 3.1%
			Turkey Government Bond,
TRY		1,985	16.00%, 3/07/12		1,335,540
			Turkey Government International Bond,
USD		900	5.625%, 3/30/21		906,750
			Turkey Government International Bond,
USD		230	7.25%, 3/15/15		260,188
			Turkey Government International Bond,
USD		640	9.50%, 1/15/14		752,800
			Yasar Holdings SA Via Willow No 2,
USD		300	9.625%, 10/07/13 (b)(c)		314,997

					3,570,275

UKRAINE - 0.1%
			Credit Suisse First Boston International for CJSC The EXIM of Ukraine,
USD		160	7.65%, 9/07/11		162,400

UNITED ARAB EMIRATES - 0.4%
			Dubai Electricity & Water Authority,
USD		500	7.375%, 10/21/20 (c)		474,883

UNITED KINGDOM - 19.3%
			HBOS PLC,
AUD		500	6.75%, 5/01/12 (a)(b)		410,339
			Lloyds Banking Group PLC,
GBP		1,000	9.125%, 10/17/11		1,652,178
			United Kingdom Gilt,
GBP		7,060	4.25%, 12/07/49		10,967,191
			United Kingdom Gilt,
GBP		3,000	8.00%, 12/07/15		6,020,251
			United Kingdom Gilt,
GBP		1,780	9.00%, 7/12/11		2,957,932

					22,007,891

UNITED STATES - 3.6%
			Bank of America Corp.,
NZD		3,000	7.53%, 3/08/12		2,352,443
			General Electric Capital Corp.,
NZD		1,000	6.50%, 9/28/15		800,130
			General Electric Capital Corp.,
NZD		1,000	6.75%, 9/26/16		809,760
			Merrill Lynch & Co.,
AUD		200	6.75%, 3/12/14		197,128

					4,159,461

URUGUAY - 0.9%
			Uruguay Government International Bond,
UYU		13,418	5.00%, 9/14/18 (d)		765,305

See Notes to Portfolio of Investments.

Aberdeen Global Income Fund, Inc.

Portfolio of Investments (concluded)

As of January 31, 2011 (unaudited)


Principal Amount (000)	Description			Value (US$)
LONG-TERM FIXED INCOME INVESTMENTS (continued)
URUGUAY (continued)
			Uruguay Government International Bond,
USD		240	7.625%, 3/21/36	$	285,600

					1,050,905

VENEZUELA - 2.4%
			Bolivarian Republic of Venezuela,
USD		650	12.75%, 8/23/22		564,850
			Petroleos de Venezuela SA,
USD		2,140	8.50%, 11/02/17 (c)		1,441,290
			Venezuela Government International Bond,
USD		1,080	5.75%, 2/26/16 (c)		769,500

					2,775,640

Total Long-Term Investments (cost $129,663,943)					145,146,668

SHORT-TERM INVESTMENT - 2.1%
EGYPT - 0.8%
			Egypt Treasury Bill, Zero Coupon,
EGP		5,600	2/01/11		956,039

MEXICO - 0.4%
			Mexico Cetes, Zero Coupon,
MXN		5,300	3/10/11		434,924

UNITED STATES - 0.9%
USD		1,011	Repurchase Agreement, State Street Bank & Trust Co., 0.12% dated 1/31/11, due 2/01/11 in the amount of $1,011,003, (collateralized by $1,020,000 U.S. Treasury Bond, maturing 8/15/39; value of $1,034,110)		1,011,000

Total Short-Term Investment (cost $2,407,688)					2,401,963

Total Investments - 129.3% (cost $132,071,631)					147,548,631

Liabilities in Excess of Other Assets - (29.3)%					(33,471,944	)

Net Assets - 100.0%				$	114,076,687

ARS - Argentine Peso

AUD - Australian Dollar

BRL - Brazilian Real

CAD - Canadian Dollar

EGP - Egyptian Pound

GBP - British Pound Sterling

HUF - Hungarian Forint

IDR - Indonesian Rupiah

MXN - Mexican Peso

MYR - Malaysian Ringgit

NZD - New Zealand Dollar

PLN - Polish Zloty

TRY - Turkish Lira

USD - U.S. Dollar

UYU - Uruguayan Peso

ZAR - South African Rand

(a)	Indicates a variable rate security. The maturity date presented for these instruments is the later of the next date on which the security can be redeemed at par or the next date on which the rate of interest is adjusted. The interest rate shown reflects the rate in effect at January 31, 2011.

(b)	The maturity date presented for these instruments represents the next call/put date.

(c)

Security acquired in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2011, the aggregate market value of these securities amounted to $19,887,475 or 17.43% of net assets applicable to common shareholders.

(d)	Inflation linked security.

See Notes to Portfolio of Investments.

Aberdeen Global Income Fund, Inc.

Portfolio of Investments (continued)

As of January 31, 2011 (unaudited)

At January 31, 2011, the Fund held the following futures contracts:


Futures Contracts	Counterparty		Number of Contracts Long (Short)			Expiration Date		Unrealized Appreciation/ (Depreciation)
Australian Treasury Bond 6%-3 year		UBS		(79	)		03/15/11	$	(37,525	)
Australian Treasury Bond 6%-10 year		UBS		161			03/15/11		196,223

								$	158,698

At January 31, 2011, the Fund’s open forward foreign currency exchange contracts* were as follows:

Purchase/Sale

Settlement Date

Counterparty

Amount
Purchased

Amount Sold

Market Value

Unrealized
Appreciation/
(Depreciation)

Purchase Contracts

Polish Zloty/United States Dollar

04/21/11

Citibank

PLN1,850,000

USD636,614

640,224

3,610

Total Purchase Contracts

640,224

3,610

Sale Contracts

United States Dollar/Brazilian Real

03/03/11

JPMorgan Chase

USD990,925

BRL1,747,000

1,041,120

(50,195

)

United States Dollar/British Pound Sterling

04/21/11

Deutsche Bank

USD10,386,099

GBP6,552,000

10,488,704

(102,605

)

United States Dollar/New Zealand Dollar

04/21/11

Deutsche Bank

USD3,812,400

NZD5,000,000

3,834,951

(22,551

)

United States Dollar/Polish Zloty

04/21/11

JPMorgan Chase

USD742,910

PLN2,160,000

747,505

(4,595

)

United States Dollar/South African Rand

04/21/11

JPMorgan Chase

USD693,323

ZAR4,879,000

670,672

22,651

Total Sale Contracts

16,782,952

(157,295

)

*	Certain contracts with different trade dates and like characteristics have been shown net.

At January 31, 2011, the Fund’s interest rate swaps were as follows:


Currency	Notional Amount		Expiration Date		Counterparty	Receive (Pay) Floating Rate		Floating Rate Index	Fixed Rate			Unrealized Depreciation
USD		7,000,000		04/21/11	Deutsche Bank		Receive	3-month LIBOR Index		1.47	%	$	(46,058	)
USD		7,000,000		04/21/12	Deutsche Bank		Receive	3-month LIBOR Index		1.82	%		(146,802	)
USD		7,000,000		06/30/14	Deutsche Bank		Receive	3-month LIBOR Index		3.01	%		(381,797	)

												$	(574,657	)

See Notes To Portfolio of Investments.

Aberdeen Global Income Fund, Inc.

Portfolio of Investments (concluded)

As of January 31, 2011 (unaudited)

Tax Cost of Investments

The United States federal income tax basis of the Registrant’s investments and unrealized appreciation as of January 31, 2011 were as follows:


Tax Cost Basis		Appreciation		Depreciation		Net Unrealized Appreciation
$	132,071,631	$	17,089,837	$	1,612,837	$	15,477,000

Quality of Investments

As of January 31, 2011, 69.9% of the Registrant’s total investments were invested in securities where either issue or the issuer was rated “A” or better by Standard & Poor’s Corporation or Moody’s Investors Service, Inc. or, if unrated, judged to be of equivalent quality by the Investment Manager. The table below shows the asset quality of the Registrant’s portfolio as of January 31, 2011.


	% of total investments
AAA/Aaa		46.8
AA/Aa		12.2
A		10.9
BBB/Baa		13.7
BB/Ba*		9.6
B*		6.8

*	Below Investment Grade

See Notes To Portfolio of Investments.

Aberdeen Global Income Fund, Inc.

Notes to Portfolio of Investments (Unaudited)

January 31, 2011

(a) Security Valuation:

Securities for which market quotations are readily available are valued at current market value as of the “Valuation Time.” The Valuation Time is as of the close of regular trading on the New York Stock Exchange (usually 4:00 p.m. Eastern Time). Equity securities are valued at the last quoted sale price. Effective January 1, 2011, if there is no sale price available, the last quoted mean price provided by an independent pricing service approved by the Fund’s Board of Directors is used. Prior to January 1, 2011, if there was no sale price, the last quoted bid price provided by an independent pricing service was used. Securities traded on NASDAQ are valued at the NASDAQ official closing price. Prices are taken from the primary market or exchange on which each security trades. Investment companies are valued at net asset value as reported by such company.

Most securities listed on a foreign exchange are valued either at fair value (see description below) or at the last sale price at the close of the exchange on which the security is principally traded. Foreign securities, currencies, and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars at the exchange rate of said currencies against the U.S. dollar, as of the Valuation Time, as provided by an independent pricing service approved by the Board of Directors.

Debt and other fixed-income securities (other than short-term obligations) are valued at the last quoted bid price and/or by using a combination of daily quotes and matrix evaluations provided by an independent pricing service, the use of which has been approved by the Board of Directors. In the event such quotes are not available from such pricing agents, then the security may be priced based on bid quotations from broker-dealers. Short-term debt securities of sufficient credit quality such as commercial paper and U.S. Treasury Bills having a remaining maturity of 60 days or less at the time of purchase, are valued at amortized cost, which approximates fair value.

Securities for which market quotations are not readily available, or for which an independent pricing service does not provide a value or provides a value that does not represent fair value in the judgment of the Fund’s investment adviser or designee, are valued at fair value under procedures approved by the Board of Directors. In addition, fair value determinations are required for securities whose value is affected by a “significant” event that materially affects the value of a domestic or foreign security which occurs subsequent to the time of the close of the principal market on which such domestic or foreign security trades and before the Valuation Time (i.e., a “subsequent event”). Typically, this will involve events occurring after the close of a foreign market on which a security trades and before the next Valuation Time.

For the period ended January 31, 2011, other than described above there have been no significant changes to the valuation procedures approved by the Board of Directors.

The Fund is required to disclose information regarding the fair value measurements of a Fund’s assets and liabilities. Fair value is defined as the price that the Fund would receive upon selling an investment in a current transaction to an independent buyer in the principal or most advantageous market for the investment. The disclosure requirements utilize a three-tier hierarchy to maximize the use of observable market data, minimize the use of unobservable inputs and establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk (for example, the risk inherent in a particular valuation technique used to measure fair value including such a pricing model and/or the risk inherent in the inputs to the valuation technique). Inputs may be observable or unobservable.

Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability, which are based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability, which are based on the best information available in the circumstances.

The three-tier hierarchy of inputs is summarized below.

•

Level 1 – quoted prices in active markets for identical investments

•

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

Aberdeen Global Income Fund, Inc.

Notes to Portfolio of Investments (Unaudited) (continued)

January 31, 2011

•

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

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value each Fund’s investments as of January 31, 2011:


Assets	Level 1*		Level 2*			Level 3
Fixed Income Investments
Long-Term Fixed Income Investments	$	—	$	145,146,668		$	—
Short-Term Investments		—		2,401,963			—

Other Financial Instruments
Interest Rate Swap Agreements		—		(574,657	)		—
Futures Contracts		158,698		—			—
Forward Foreign Currency Exchange Contracts		—		(153,685	)		—

		158,698		146,820,289			—

*	At January 31, 2011, there were no significant transfers in or out of Level 1 and Level 2 fair value measurements.

For the period ended January 31, 2011, there have been no significant changes to the fair valuation methodologies.

(b) Repurchase Agreements:

The Fund may enter into repurchase agreements. It is the Fund’s policy that its custodian/counterparty segregate the underlying collateral securities, the value of which exceeds the principal amount of the repurchase transaction, including accrued interest. The repurchase price generally equals the price paid by the Fund plus interest negotiated on the basis of current short-term rates. To the extent that any repurchase transaction exceeds one business day, the collateral is valued on a daily basis to determine its adequacy. If the counterparty defaults and the value of the collateral declines or if bankruptcy proceedings are commenced with respect to the counterparty of the security, realization of the collateral by the Fund may be delayed or limited. The Fund held a repurchase agreement of $1,011,000 as of January 31, 2011.

(c) Foreign Currency Translation:

Foreign currency amounts are translated into United States dollars on the following basis:

(i)	market value of investment securities, other assets and liabilities – at the exchange rates at the current daily rates of exchange; and

(ii)	purchases and sales of investment securities, income and expenses – at the rate of exchange prevailing on the respective dates of such transactions.

The Fund isolates that portion of the results of operations arising from changes in the foreign exchange rates due to fluctuations in the market prices of the securities held at the end of the reporting period. Similarly, the Fund isolates the effect of changes in foreign exchange rates from the fluctuations arising from changes in the market prices of portfolio securities sold during the reporting period.

Net exchange gain/(loss) is realized from sales and maturities of portfolio securities, sales of foreign currencies, settlement of securities transactions, dividends, interest and foreign withholding taxes recorded on the Fund’s books. Net unrealized foreign exchange appreciation/(depreciation) include changes in the value of portfolio securities and other assets and liabilities arising as a result of changes in the exchange rate. The net realized and unrealized foreign exchange gain/(loss) shown in the composition of net assets represent foreign exchange gain/(loss) for book purposes that may not have been recognized for tax purposes.

Foreign security and currency transactions may involve certain considerations and risks not typically associated with those of domestic origin, including unanticipated movements in the value of the foreign currency relative to the U.S. dollar. Generally, when the U.S. dollar rises in value against foreign currency, the Fund’s investments denominated in that currency will lose value because its currency is worth fewer U.S. dollars; the opposite effect occurs if the U.S. dollar falls in relative value.

Aberdeen Global Income Fund, Inc.

Notes to Portfolio of Investments (Unaudited) (continued)

January 31, 2011

(d) Security Transactions and Investment Income:

Securities transactions are recorded on the trade date. Realized and unrealized gains/(losses) from security and currency transactions are calculated on the identified cost basis. Interest income is recorded on an accrual basis. Discounts and premiums on securities purchased are accreted or amortized on an effective yield basis over the estimated lives of the respective securities. Expenses are accrued on a daily basis.

(e) Derivative Financial Instruments:

The Fund is authorized to use derivatives to manage currency risk, credit risk and interest rate risk and to replicate or as a substitute for physical securities. Losses may arise due to changes in the value of the contract or if the counterparty does not perform under the contract. The use of derivative instruments involves, to varying degrees, elements of market risk in excess of the amount recognized in the Statement of Assets and Liabilities.

Swaps:

The Fund engaged in certain swap transactions in order to obtain a desired return at a lower cost than if the Fund had invested directly in the asset that yielded the desired return or as a tool to hedge the leverage. A swap is an agreement that obligates two parties to exchange a series of cash flows at specified intervals based upon or calculated by reference to changes in specified prices or rates for a specified amount of an underlying asset or notional principal amount. The Fund will enter into swaps only on a net basis, which means that the two payment streams are netted out, with the Fund receiving or paying, as the case may be, only the net amount of the difference between the two payments. Risks may arise as a result of the failure of the counterparty to the swap contract to comply with the terms of the swap contract. The loss incurred by the failure of a counterparty is generally limited to the net interest payment to be received by the Fund, and/or the termination value at the end of the contract. Therefore, the Fund considers the creditworthiness of each counterparty to a swap contract in evaluating potential credit risk. Additionally, risks may arise from unanticipated movements in interest rates or in the value of the underlying reference asset or index. The Fund records unrealized gains or losses on a daily basis representing the value and the current net receivable or payable relating to open swap contracts. Net amounts received or paid on the swap contract are recorded as realized gains or losses. Fluctuations in the value of swap contracts are recorded for financial statement purposes as unrealized appreciation or depreciation of swap contracts. Realized gains and losses from terminated swaps are included in net realized gains/losses on swap contracts transactions.

The Fund is a party to International Swap Dealers Association, Inc. Master Agreements (“ISDA Master Agreements”). These agreements are with select counterparties and they govern transactions, including certain over-the counter derivative and foreign exchange contracts, entered into by the Fund and the counterparty.

The ISDA Master Agreements maintain provisions for general obligations, representations, agreements, collateral, and events of default or termination. The occurrence of a specified event of termination may give a counterparty the right to terminate all of its contracts and affect settlement of all outstanding transactions under the applicable ISDA Master Agreement. Swap contracts were used during the period to manage the interest rate risks, raise efficiency of the portfolio and to diversify the hedging of leverage.

Forward Foreign Currency Exchange Contracts:

A forward foreign currency exchange contract (“forward contract”) involves an obligation to purchase and sell a specific currency at a future date at a price set at the time of the contract. The Fund entered into forward contracts in connection with security transactions or to hedge the U.S. dollar value of portfolio securities denominated in a particular currency. A forward contract is marked-to-market daily and the change in market value is recorded by the Fund as unrealized appreciation or depreciation. When the forward contract is closed, the Fund records a realized gain or loss equal to the difference between the value at the time it was opened and the value at the time it was closed. These unrealized and realized gains and losses are reported on the Statement of Operations. The Fund could be exposed to risks if the counterparties to the contracts are unable to meet the terms of their contracts and from unanticipated movements in exchange rates. During the period, forward contracts were primarily used to neutralize the currency exposure of the Fund relative to its benchmark and to overlay active currency decisions.

Aberdeen Global Income Fund, Inc.

Notes to Portfolio of Investments (Unaudited) (concluded)

January 31, 2011

Futures Contracts:

The Fund invested in financial futures contracts (“futures contracts”) for the purpose of hedging duration of their existing portfolio securities or securities that the Fund intends to purchase against fluctuations in value caused by changes in prevailing market interest rates or prices. Futures contracts may also be entered into for non-hedging purposes; however, in those instances, the aggregate initial margin and premiums required to establish a Fund’s positions may not exceed 5% of the Fund’s net asset value after taking into account unrealized profits and unrealized losses on any such contract it has entered into.

Upon entering into a futures contract, the Fund is required to pledge to the broker an amount of cash and/or other assets equal to a certain percentage of the contract amount (“initial margin deposit”). Subsequent payments, known as “variation margin,” are calculated each day, depending on the daily fluctuations in the fair value/market value of the underlying assets. An unrealized gain or loss equal to the variation margin is recognized on a daily basis. When the contract expires or is closed the gain (loss) is realized and is presented in the Statement of Operations as a net realized gain (loss) on futures contracts. When the contract expires or is closed the gain (loss) is realized and is presented in the Statement of Operations as a net realized gain (loss) on futures contracts. Futures contracts are valued daily at their last quoted sale price on the exchange they are traded.

A “sale” of a futures contract means a contractual obligation to deliver the securities or foreign currency called for by the contract at a fixed price at a specified time in the future. A “purchase” of a futures contract means a contractual obligation to acquire the securities or foreign currency at a fixed price at a specified time in the future.

Should market conditions change unexpectedly, the Fund may not achieve the anticipated benefits of the futures contracts and may realize a loss. The use of futures transactions for hedging purposes involves the risk of imperfect correlation in movements in the price of futures contracts, interest rates and the value/market value of the underlying hedged assets. Futures contracts were used to hedge the duration of the Fund against its benchmark and to manage the overall duration of certain Funds.

(f) Distributions:

It is the Fund’s current policy to pay distributions from net investment income supplemented by net realized foreign exchange gains, net realized short-term capital gains and return of capital distributions if necessary, on a monthly basis. The Fund will also declare and pay distributions at least annually from net realized gains on investment transactions and net realized foreign exchange gains, if any. Dividends and distributions to shareholders are recorded on the ex-dividend date.

Dividends and distributions to shareholders are determined in accordance with federal income tax regulations, which may differ from GAAP. These differences are primarily due to differing treatments foreign currencies, loss deferrals and recognition of market discount and premium.

(g) Federal Income Taxes:

For federal income and excise tax purposes, substantially all of the Fund’s transactions are accounted for using the functional currencies. Accordingly, only realized currency gains/(losses) resulting from the repatriation of any of the functional currencies (Australian Dollar, Canadian Dollar or British Pound) into U.S. dollars or another functional currency and realized currency gains and losses on non-functional currencies are recognized for U.S. federal tax purposes.

The Fund intends to qualify or continue to qualify as a “regulated investment company” by complying with the provisions available to certain investment companies, as defined in Subchapter M of the Internal Revenue Code, and to make distributions of net investment income and net realized capital gains sufficient to relieve the Fund from all, or substantially all, federal income taxes. Therefore, no federal income tax provision is required.

Management of the Fund has concluded that there are no significant uncertain tax positions that would require recognition in the financial statements. Since tax authorities can examine previously filed tax returns, the Fund’s U.S. federal tax returns for each of the four fiscal years up to the period ended October 31, 2010 are subject to such review.

(h) Subsequent Events

Management has evaluated the need for disclosures and/or adjustments resulting from subsequent events through the date the report was issued.

Aberdeen Global Income Fund, Inc.

Item 2 – Controls and Procedures

(a)

It is the conclusion of the Registrant’s principal executive officer and principal financial officer that the effectiveness of the Registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the Registrant has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the Registrant has been accumulated and communicated to the Registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.

(b)

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

Item 3 – Exhibits.

(a)

Certifications required pursuant to Rule 30a-2(a) under the Investment Company Act of 1940, as amended, are filed as Exhibit 99.CERT.

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.


Aberdeen Global Income Fund, Inc.

By:		/s/ Christian Pittard
		Christian Pittard,

		President of Aberdeen Global Income Fund, Inc.

Date: March 30, 2011

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/ Christian Pittard
		Christian Pittard,
		President of Aberdeen Global Income Fund, Inc.

Date: March 30, 2011


By:		/s/ Andrea Melia
		Andrea Melia,
		Treasurer of Aberdeen Global Income Fund, Inc.

Date: March 30, 2011