[ARTICLE] 6
[CIK] 0000918708
[NAME] THE EMERGING MARKET FLOATING RATE FUND INC.
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   YEAR
[FISCAL-YEAR-END]                          FEB-28-1999
[PERIOD-END]                               FEB-28-1999
[INVESTMENTS-AT-COST]                       39,397,851
[INVESTMENTS-AT-VALUE]                      31,389,862
[RECEIVABLES]                               11,904,479
[ASSETS-OTHER]                                  65,437
[OTHER-ITEMS-ASSETS]                                 0
[TOTAL-ASSETS]                              43,359,778
[PAYABLE-FOR-SECURITIES]                             0
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                      197,281
[TOTAL-LIABILITIES]                            197,281
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                    58,557,383
[SHARES-COMMON-STOCK]                        4,226,515
[SHARES-COMMON-PRIOR]                        4,187,987
[ACCUMULATED-NII-CURRENT]                      131,591
[OVERDISTRIBUTION-NII]                               0
[ACCUMULATED-NET-GAINS]                              0
[OVERDISTRIBUTION-GAINS]                   (7,518,488)
[ACCUM-APPREC-OR-DEPREC]                   (8,007,989)
[NET-ASSETS]                                43,162,497
[DIVIDEND-INCOME]                                    0
[INTEREST-INCOME]                            7,645,935
[OTHER-INCOME]                                       0
[EXPENSES-NET]                                 829,512
[NET-INVESTMENT-INCOME]                      6,816,423
[REALIZED-GAINS-CURRENT]                   (7,514,243)
[APPREC-INCREASE-CURRENT]                 (13,876,863)
[NET-CHANGE-FROM-OPS]                     (14,574,683)
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                    6,684,832
[DISTRIBUTIONS-OF-GAINS]                     1,170,913
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                              0
[NUMBER-OF-SHARES-REDEEMED]                          0
[SHARES-REINVESTED]                             38,528
[NET-CHANGE-IN-ASSETS]                    (21,979,584)
[ACCUMULATED-NII-PRIOR]                              0
[ACCUMULATED-GAINS-PRIOR]                    1,166,668
[OVERDISTRIB-NII-PRIOR]                              0
[OVERDIST-NET-GAINS-PRIOR]                           0
[GROSS-ADVISORY-FEES]                          578,555
[INTEREST-EXPENSE]                                   0
[GROSS-EXPENSE]                                829,512
[AVERAGE-NET-ASSETS]                        52,619,916
[PER-SHARE-NAV-BEGIN]                            15.55
[PER-SHARE-NII]                                  01.62
[PER-SHARE-GAIN-APPREC]                         (5.19)
[PER-SHARE-DIVIDEND]                             01.59
[PER-SHARE-DISTRIBUTIONS]                        00.28
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                              10.21
[EXPENSE-RATIO]                                  01.58
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>