UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

51 West 52^nd Street, New York, New York 10019-6114

---

Mark F. Kemper, Esq.
UBS Global Asset Management
51 West 52^nd Street
New York, NY 10019-6114
(Name and address of agent for service)

Copy to:
Jack W. Murphy, Esq.
Dechert LLP
1775 I Street, N.W.
Washington, DC 20006-2401

Registrant’s telephone number, including area code: 212-882 5000

Date of fiscal year end: October 31

Date of reporting period: July 31, 2007

Item 1. Schedule of Investments

Global High Income Fund Inc.
Portfolio of investments — July 31, 2007 (unaudited)

				Face
				amount		Value
International bonds — 80.49%
Argentina — 8.92%
Argentina Prestamos Garantizadad,
5.500%, due 01/14/09(1)		ARS		500,000		$	222,027
5.500%, due 01/19/12(1)				4,808,240			4,251,878
Banco de Galicia y Buenos Aires,
11.000%, due 01/01/19(2)		$		832,080			825,839
Province of Mendoza,
5.500%, due 09/04/18				1,307,069			960,696
Republic of Argentina,
5.389%, due 08/03/12(1)				32,162,000			18,316,259
11.000%, due 12/04/05(3)				1,000,000			350,000
11.000%, due 10/09/06(3)				4,500,000			1,633,500
11.375%, due 03/15/10(3)				800,000			288,000
11.375%, due 01/30/17(3)				1,800,000			657,000
12.250%, due 06/19/18(3)				2,850,000			1,026,000
Republic of Argentina, DISC,
5.830%, due 12/31/33(1)		ARS		159,571			64,508
							28,595,707
Brazil — 5.86%
Federal Republic of Brazil,
6.000%, due 01/17/17		$		7,980,000			7,732,620
6.000%, due 05/15/45		BRL		7,200,000			6,197,551
Federal Republic of Brazil, EXIT Bond,
6.000%, due 09/15/13		$		2,708,333			2,708,333
Union National FIDC Trust 2006,
0.000%, due 12/01/08(1),(4)		BRL		2,141,490			1,155,626
0.000%, due 07/01/10(1),(4)				1,832,665			992,479
							18,786,609
Colombia — 1.43%
Republic of Colombia,
7.375%, due 01/27/17		$		1,300,000			1,381,900
11.750%, due 02/25/20				2,235,000			3,207,225
							4,589,125
Dominican Republic — 3.72%
Republic of Dominica,
9.040%, due 01/23/18		$		617,532			688,548
9.500%, due 09/27/11				8,522,038			9,033,361
Republic of Dominica Credit-Linked Note,
10.967%, due 02/29/08(5)				2,222,444			2,217,379
							11,939,288
Ecuador — 1.17%
Republic of Ecuador,
10.000%, due 08/15/30(2)		$		4,455,000			3,753,337
Egypt — 3.31%
Egypt Government Bond,
8.500%, due 02/14/08		EGP		22,000,000			4,062,587
Republic of Egypt Credit-Linked Note,
8.500%, due 02/10/08		$		6,284,568			6,564,231
							10,626,818
El Salvador — 1.99%
Republic of El Salvador,
7.750%, due 01/24/23		$		3,490,000			3,943,700
8.250%, due 04/10/32				2,040,000			2,427,600
							6,371,300

Global High Income Fund Inc.
Portfolio of investments — July 31, 2007 (unaudited)

				Face
				amount		Value
Indonesia — 6.30%
Indonesia Government Credit-Linked Note,
11.000%, due 10/15/14		IDR		4,000,000,000		$	478,916
Indonesia Treasury Bonds,
10.250%, due 07/15/27				9,700,000,000			1,080,556
11.000%, due 09/15/25				28,200,000,000			3,325,918
12.500%, due 03/15/13				23,350,000,000			2,936,152
Majapahit Holding BV,
7.250%, due 10/17/11		$		3,400,000			3,448,525
7.250%, due 06/28/17(4)				5,000,000			4,775,000
7.875%, due 06/29/37(4)				4,200,000			4,158,000
							20,203,067
Kazakhstan — 0.22%
CenterCredit International BV,
8.250%, due 09/30/11		KZT		90,000,000			708,303
Lebanon — 1.87%
Republic of Lebanon,
4.000%, due 12/31/17(6)		$		4,600,000			3,565,000
8.250%, due 04/12/21(6)				650,000			586,625
8.500%, due 01/19/16				1,100,000			1,051,875
11.625%, due 05/11/16				700,000			794,500
							5,998,000
Malaysia — 5.28%
Johor Corp.,
1.000%, due 07/31/12(6)		MYR		46,970,000			16,044,174
Malaysia Government Bond,
3.869%, due 04/13/10				3,000,000			877,211
							16,921,385
Mexico — 3.24%
PEMEX Project Funding Master Trust,
8.625%, due 02/01/22		$		3,250,000			3,875,625
United Mexican States,
9.000%, due 12/22/11		MXN		68,000,000			6,510,838
							10,386,463
Pakistan — 1.37%
Islamic Republic of Pakistan,
6.750%, due 02/19/09		$		2,400,000			2,340,000
6.875%, due 06/01/17(4)				2,340,000			2,047,500
							4,387,500
Philippines — 2.61%
National Power Corp.,
8.400%, due 12/15/16		$		3,100,000			3,355,750
9.625%, due 05/15/28				1,160,000			1,415,200
Republic of Philippines,
8.000%, due 01/15/16				400,000			424,000
8.375%, due 02/15/11				3,000,000			3,157,500
							8,352,450
Poland — 2.81%
Government of Poland,
4.250%, due 05/24/11		PLN		11,200,000			3,874,426
6.000%, due 11/24/10				14,000,000			5,140,107
							9,014,533

Global High Income Fund Inc.
Portfolio of investments — July 31, 2007 (unaudited)

				Face
				amount		Value
Russia — 6.66%
Dali Capital PLC for Bank of Moscow,
7.250%, due 11/25/09		RUB		75,800,000		$	3,024,114
RSHB Capital SA
7.175%, due 05/16/13		$		2,520,000			2,612,686
Russian Federation,
7.500%, due 03/31/30(2)				9,651,500			10,574,425
7.500%, due 03/31/30(2),(4)				2,341,821			2,565,757
Russian Ruble Credit-Linked Note,
7.580%, due 10/09/07(4)		RUB		66,000,000			2,587,957
							21,364,939
Serbia — 2.09%
Republic of Serbia,
3.750%, due 11/01/24(2)		$		7,290,000			6,711,356
South Africa — 0.92%
Republic of South Africa,
5.875%, due 05/30/22		$		300,000			287,250
6.500%, due 06/02/14				2,000,000			2,060,000
7.375%, due 04/25/12				560,000			594,300
							2,941,550
Turkey — 11.03%
Government of Turkey,
22.538%, due 08/13/08(5)		TRY		5,200,000			3,411,437
14.000%, due 01/19/11				1,000,000			725,304
Republic of Turkey,
7.000%, due 09/26/16		$		8,140,000			8,160,350
7.250%, due 03/15/15				1,800,000			1,833,750
11.500%, due 01/23/12				620,000			736,250
Republic of Turkey Credit-Linked Notes,
14.000%, due 01/20/11				5,000,000			6,459,250
14.000%, due 01/19/11				2,884,424			2,692,610
15.000%, due 02/11/10				6,250,000			8,089,250
15.000%, due 02/10/10		TRY		1,000,000			804,378
15.000%, due 02/11/10(4)		$		2,500,000			2,448,500
							35,361,079
Ukraine — 1.29%
Republic of Ukraine Credit-Linked Note,
14.500%, due 03/30/08		UAH		20,300,000			4,140,591
Uruguay — 1.04%
Republic of Uruguay,
6.875%, due 01/19/16		EUR		2,330,000			3,347,179
Venezuela — 6.19%
Republic of Venezuela,
5.375%, due 08/07/10		$		3,180,000			2,997,150
5.750%, due 02/26/16				11,900,000			10,055,500
7.000%, due 12/01/18				6,130,000			5,486,350
9.375%, due 01/13/34				1,220,000			1,299,300
							19,838,300
Vietnam — 1.17%
Socialist Republic of Vietnam,
6.875%, due 01/15/16		$		1,100,000			1,113,750
6.875%, due 01/15/16(4)				2,600,000			2,632,500
							3,746,250
Total international bonds (cost — $252,561,977)							258,085,129
				Number of
				warrants
Warrants — 0.31%
Argentina — 0.31%
Republic of Argentina, expires 12/15/35(7)
(cost — $821,135)				29,648,103			1,007,630

Global High Income Fund Inc.
Portfolio of investments — July 31, 2007 (unaudited)

				Face
				amount		Value
Short-term investments — 7.03%
International certificate of deposit — 1.04%
Egypt — 1.04%
Egypt Sovereign Certificate of Deposit,
9.612%, due 08/01/07(9)
(cost — $3,324,603)		EGP		19,000,000		$	3,352,892
US government obligations — 0.30%
US Treasury Bills,
4.810%, due 12/20/07(8),(9)
(cost — $966,868)		$		985,000			966,643
				Shares
Other — 5.69%
UBS Supplementary Trust — U.S. Cash
Management Prime Fund, 5.365%(10),(11)
(cost — $18,235,125)				18,235,125			18,235,125
Total short-term investments (cost — $22,526,596)							22,554,660
				Number of
				contracts
Options purchased — 0.61%
Call options — 0.58%
5 Year US treasury notes futures, strike at USD 104.5,
expires August 2007*(8)				1,658			1,839,343
Put options — 0.03%
5 Year US treasury notes futures, strike at USD 103.5,
expires August 2007*(8)				1,658			51,813
5 Year US treasury notes futures, strike at USD 104.0,
expires November 2007*(8)				124			48,438
							100,251
Total options purchased (cost — $1,019,282)							1,939,594
Total investments(12),(13) (cost — $276,928,990) — 88.44%							283,587,013
Cash and other assets, less liabilities — 11.56%							37,056,750
Net assets — 100%						$	320,643,763

Gross unrealized appreciation		$	15,200,883
Gross unrealized depreciation			(8,542,860	)
Net unrealized appreciation		$	6,658,023

*		Non-income producing security.
(1)		Floating rate security – The interest rate shown is the current rate as of July 31, 2007.
(2)		Step bond – Coupon rate increases in increments to maturity. Rate disclosed is as of July 31, 2007. Maturity date disclosed is the ultimate maturity date.
(3)		Bond interest in default.
(4)		Security is exempt from registration under Rule 144A of the Securities Act of 1933. These securities are considered liquid, unless otherwise noted, and may be resold in transactions exempt from registration, normally to qualified institutional buyers. At July 31, 2007, the value of these securities amounted to $23,363,319 or 7.29% of net assets.
(5)		Reflects annualized yield at July 31, 2007 on zero coupon bonds.
(6)		Security is being fair valued by a valuation committee under the direction of the Board of Trustees. At July 31, 2007, the value of these securities amounted to $20,195,799 or 6.30% of net assets.
(7)		Security represents an equity claim linked to Argentina’s gross domestic product.
(8)		This security was delivered to cover margin requirements for futures contracts.
(9)		The rate shown is the effective yield at the date of purchase.
(10)		The rate shown reflects the yield at July 31, 2007.

(11)

The table below details the Fund’s investment in a security issued by a fund that is advised by the same advisor as the Fund. The advisor does not earn a management fee from UBS Supplementary Trust.

Income earned

Purchases

Sales

from affiliate

during the

during the

for the

nine months

nine months

nine months

Value

ended

ended

Value

ended

Security description

10/31/06

07/31/07

07/31/07

07/31/07

07/31/07

UBS Supplementary Trust — U.S. Cash Management Prime Fund

$32,440,632

$217,711,137

$231,916,644

$18,235,125

$844,430

(12)

The table below details the Fund’s transaction activity in an affiliated issuer for the nine months ended July 31, 2007. The advisor earns a management fee from UBS Private Money Market Fund LLC.

Net income

Purchases

Sales

earned from

during the

during the

affiliate for

nine months

nine months

the nine months

Value

ended

ended

Value

ended

Security description

10/31/06

07/31/07

07/31/07

07/31/07

07/31/07

UBS Private Money Market Fund LLC

$—

$6,568,342

$6,568,342

$—

$794

(13)		The Fund calculates its net asset value based on the current market value, where available, for its portfolio securities. The Fund normally obtains market values for its securities from independent pricing sources and broker-dealers. Independent pricing sources may use reported last sale prices, current market quotations or valuations from computerized “matrix” systems that derive values based on comparable securities. A matrix system incorporates parameters such as security quality, maturity and coupon, and/or research and evaluations by its staff, including review of broker-dealer market price quotations, if available, in determining the valuation of the portfolio securities. Securities traded in the over-the-counter (“OTC”) market and listed on The Nasdaq Stock Market, Inc. (“NASDAQ”) normally are valued at the NASDAQ Official Closing Price. Other OTC securities are valued at the last bid price on the valuation date available prior to valuation. Securities which are listed on US and foreign stock exchanges normally are valued at the last sale price on the day the securities are valued or, lacking any sales on such day, at the last available bid price. In cases where securities are traded on more than one exchange, the securities are valued on the exchange designated as the primary market by UBS Global Asset Management (Americas) Inc., the investment advisor of the Fund. If a market value is not available from an independent pricing source for a particular security, that security is valued at fair value as determined in good faith by or under the direction of the Fund’s Board of Directors (the “Board”). All investments quoted in foreign currencies will be valued weekly in US dollars on the basis of the foreign currency exchange rates. Foreign currency exchange rates are generally determined as of the close of the New York Stock Exchange (”NYSE”). Occasionally, events affecting the value of foreign investments occur between the time at which they are determined and the close of the NYSE, which will not be reflected in the computation of the Fund’s net asset value. If events materially affecting the value of such securities occur during such time periods, the securities will be valued at their fair value as determined in good faith by or under the direction of the Board. The amortized cost method of valuation, which approximates market value, generally is used to value short-term debt instruments with sixty days or less remaining to maturity, unless the Board determines that this does not represent fair value.
DISC		Discount bond
EXIT Bond		A long-term bond with a low interest rate, often issued by a less developed country, that gives the buyer the right of exemption from taking part in any subsequent debt rescheduling.

Currency type abbreviations:
ARS		Argentine Peso
BRL		Brazilian Real
EGP		Egyptian Pound
EUR		Euro
IDR		Indonesian Rupiah
KZT		Kazakhstan Tenge
MXN		Mexican Peso
MYR		Malaysian Ringgit
PLN		Polish Zloty
RUB		Russian Ruble
TRY		New Turkish Lira
UAH		Ukrainian Hryvnia

Forward foreign currency contracts
Global High Income Fund Inc. had the following open forward foreign currency contracts as of July 31, 2007:

												Unrealized
		Contracts			In				Maturity			appreciation/
		to deliver			exchange for				dates			(depreciation)
Brazilian Real		11,630,000			USD		5,598,075		08/24/07			$	(552,148	)
Columbian Peso		14,500,000,000			USD		7,330,637		08/24/07				(59,897	)
Euro		1,185,000			USD		1,641,865		10/24/07				16,527
Malaysian Ringgit		6,300,000			USD		1,848,049		08/24/07				22,325
South African Rand		140,000,000			USD		19,810,386		08/24/07				303,389
New Turkish Lira		22,400,000			USD		16,620,967		08/24/07				(682,131	)
Ukrainian Hryvnia		8,270,000			USD		1,463,717		05/18/09				(96,748	)
United States Dollar		6,800,000			ARS		21,698,800		08/24/07				66,527
United States Dollar		5,692,609			BRL		11,630,000		08/24/07				457,613
United States Dollar		3,526,093			COP		7,500,000,000		08/24/07				296,597
United States Dollar		2,989,537			DOP		100,000,000		08/24/07				63,898
United States Dollar		563,380			IDR		5,000,000,000		08/24/07				(21,675	)
United States Dollar		1,842,105			MYR		6,300,000		08/24/07				(16,381	)
United States Dollar		6,761,833			TRY		9,000,000		08/24/07				190,304
United States Dollar		3,728,679			TRY		4,700,000		08/24/07				(98,118	)
United States Dollar		1,490,090			UAH		8,270,000		05/18/09				70,376
United States Dollar		9,907,898			ZAR		71,000,000		08/24/07				(15,064	)
Net unrealized depreciation on forward foreign currency contracts												$	(54,606	)

Currency type abbreviations:
ARS		Argentine Peso
BRL		Brazilian Real
COP		Columbian Peso
DOP		Dominican Peso
IDR		Indonesian Rupiah
MYR		Malaysian Ringgit
TRY		New Turkish Lira
UAH		Ukrainian Hryvnia
USD		United States Dollar
ZAR		South African Rand

Futures contracts
Global High Income Fund Inc. had the following open futures contracts as of July 31, 2007:

												Unrealized
		Expiration		Cost/								appreciation/
		date		proceeds				Value				(depreciation)
US treasury futures buy contracts:
5 Year US treasury notes, 230 contracts		September 2007		$	23,856,152			$	24,257,812			$	401,660
10 Year US treasury notes, 170 contracts		September 2007			17,868,751				18,261,719				392,968
30 Year US treasury bonds, 500 contracts		September 2007			54,292,080				55,031,250				739,170
US treasury futures sell contracts:
5 Year US treasury notes, 1,099 contracts		September 2007			115,256,990				115,910,156				(653,166	)
Net unrealized appreciation on futures contracts												$	880,632

The segregated aggregate market value of investments pledged to cover margin requirements for the open futures positions at July 31, 2007, was $2,906,237.

Industry diversification
As a percentage of net assets
As of July 31, 2007 (unaudited)
International bonds
International corporate bonds
Commercial banks		2.93	%
Diversified financial services		2.91
Electric utilities		4.27
Oil, gas & consumable fuels		1.21
Total international corporate bonds		11.32
Foreign government bonds		69.17
Total international bonds		80.49
Warrants		0.31
Short-term investments		7.03
Options purchased		0.61
Total investments		88.44
Cash and other assets, less liabilities		11.56
Net assets		100.00	%

The Fund may enter into interest rate swap agreements with another party to receive or pay interest (e.g., an exchange of fixed rate payments for floating rate payments) to protect themselves from interest rate fluctuations. This type of 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 a specified interest rate(s) for a specified amount. The payment flows are usually netted against each other, with the difference being paid by one party to the other.

Credit default swap agreements involve commitments to make or receive payments in the event of a default of a security or a credit event. As a buyer, the Fund would make periodic payments to the counterparty, and the Fund would receive payments only upon the occurrence of a credit event. If no credit event occurs, the Fund will lose its periodic stream of payments over the term of the contract. However, if a credit event does occur, the Fund typically would receive full notional value for a reference obligation that may have little or no value. As a seller, the Fund would receive periodic payments from the counterparty, and the Fund would make payments only upon the occurrence of a credit event. If no credit event occurs, the Fund will gain the periodic stream of payments it received over the term of the contract. However, if a credit event occurs, the Fund will pay full notional value for a reference obligation that may have little or no value. Credit default swaps may involve greater risks than if the Fund had invested in the reference obligation directly and are subject to general market risk, liquidity risk and credit risk.

Total return swap agreements involve commitments to pay or receive interest in exchange for a market-linked return based on a notional amount. To the extent the total return of the security or index underlying the transaction exceeds or falls short of the offsetting interest rate obligation, the Fund will receive a payment from or make a payment to the counterparty, respectively. Total return swaps are marked-to-market daily, and the change, if any, is recorded as unrealized appreciation or depreciation.

The use of swaps involves investment techniques and risks different from those associated with ordinary portfolio security transactions. If UBS Global AM is incorrect in its forecast of market values, interest rates and other applicable factors, the investment performance of the Fund will be less favorable than it would have been if this investment technique was never used. Swaps do not involve the delivery of securities or other underlying assets or principal, and are subject to counterparty risk. If the other party to a swap defaults and fails to consummate the transaction, a Fund’s risk of loss will consist of the net amount of interest payments that the Fund is contractually entitled to receive. Therefore, the Fund would consider the creditworthiness of the counterparty to a swap agreement in evaluating potential credit risk.

The Fund will accrue for interim payments on swap agreements on a daily basis, with the net amount recorded within unrealized appreciation/depreciation of swap agreements on the Statements of Assets and Liabilities. Once interim payments are settled in cash, the net amount is recorded as realized gain/loss on swap agreements, in addition to realized gain/loss recorded upon the termination of swap agreements on the Statements of Operations. Fluctuations in the value of swap agreements are recorded for financial statement purposes as unrealized appreciation or depreciation of swap agreements.

At July 31, 2007, the Fund had outstanding credit default swap agreements with the following terms:

															Payments
							Termination			Payments made					received by the
Counterparty		Notional amount					dates			by the Fund					Fund				Value
Citigroup Global Markets Limited		DOP		186,200,000			11/13/07			$	4,876,101	(1)			—	(2)			$  5,556,253
Citigroup Global Markets Limited		COP		5,568,000,000			09/15/14				3,271,632	(3)			13.5000	%(4)			3,671,493
Credit Suisse International		USD		1,500,000			12/20/11				1,500,000	(5)(6)			5.0000				1,544,907
Deutsche Bank AG		USD		2,500,000			03/20/12				—	(7)			1.2600				(13,014	)
Deutsche Bank AG		USD		3,190,000			06/20/16				—	(8)			3.0600				61,506
Deutsche Bank AG		USD		3,300,000			04/20/17				—	(8)			2.5000				88,227
Deutsche Bank AG		USD		3,700,000			09/20/17				—	(9)			1.6200				(327,690	)
Merrill Lynch		USD		2,000,000			07/20/12				—	(10)			0.6700				(52,875	)
(Upfront payments made by the Fund $9,647,733)																			$10,528,807

(1)		Payment made on 11/10/06 to fully fund swap.
(2)		Payment from the counterparty will be received upon the occurrence of a credit event with respect to the Certificados de Inversion Cero Cupon bond, due 11/12/07.
(3)		Payment made on 04/03/07 to fully fund swap.
(4)		Payment from the counterparty will be received upon the occurrence of a credit event with respect to the Titulos de Tesoreria bond, due 09/12/14.
(5)		Payment made on 01/30/07 to fully fund swap.
(6)		Payment to the counterparty will be made upon the occurrence of bankruptcy and/or restructuring event with respect to the NJSC Naftogaz Ukraine 8.125% bond, due 09/30/09.
(7)		Payment to the counterparty will be made upon the occurrence of a bankruptcy and/or restructuring event with respect to the Republic of Colombia 10.375% bond, due 01/28/33.
(8)		Payment to the counterparty will be made upon the occurrence of bankruptcy and/or restructuring event with respect to the Republic of Turkey 11.875% bond, due 01/15/30.
(9)		Payment to the counterparty will be made upon the occurrence of bankruptcy and/or restructuring event with respect to the Republic of Indonesia 6.625% bond, due 02/17/37.
(10)		Payment to the counterparty will be made upon the occurrence of bankruptcy and/or restructuring event with respect to the Republic of Panama 8.875% bond, due 09/30/27.

Currency type abbreviations:
COP		Colombian Peso
DOP		Dominican Peso
USD		United States Dollar

At July 31, 2007, the Fund had outstanding total return swap agreements with the following terms:

													Payments
						Termination			Payments made				received by the
Counterparty		Notional amount				dates			by the Fund				Fund			Value
Credit Suisse International		ARS		12,225,000		12/19/11			$10,815,082	(1)			—	(2)		$	10,220,703
Deutsche Bank AG		KZT		445,800,000		03/19/08			3,800,721	(3)			—	(4)			3,675,028
HSBC Bank PLC		RUB		34,500,000		10/09/07			1,254,490	(5)			—	(6)			1,384,182
Morgan Stanley & Co. International Ltd.		KZT		448,000,000		02/05/08			3,500,957	(7)			—	(8)			3,761,213
Morgan Stanley & Co. International Ltd.		UAH		13,025,000		03/18/08			2,652,460	(9)			—	(10)			2,688,787
(Upfront payments made by the Fund $22,023,710)																$	21,729,913

(1)		Payment made on 04/13/07 to fully fund swap.
(2)		Rate is equal to the total return on the Republic of Argentina 4.000% bond, due 12/17/11.
(3)		Payment made on 02/26/07 to fully fund swap.
(4)		Rate is equal to the total return of the Halyk Savings Bank-Kazak 7.100% bond, due 03/17/08.
(5)		Payment made on 09/27/05 to fully fund swap.
(6)		Rate is equal to the total return on the OAO Gazprom 7.580% bond, due 10/09/07.
(7)		Payment made on 12/13/06 to fully fund swap.
(8)		Rate is equal to the total return on the JSC Alliance Bank 9.000% bond, due 06/27/08.
(9)		Payment made on 04/24/07 to fully fund swap.
(10)		Rate is equal to the total return on the Privat Bank 11.000% bond, due 03/11/08.
Currency type abbreviations:
ARS		Argentine Peso
KZT		Kazakhstan Tenge
RUB		Russian Ruble
UAH		Ukrainian Hryvnia

For more information regarding the Fund’s other significant accounting policies, please refer to the Fund’s semiannual report to shareholders dated April 30, 2007.

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 (“Investment Company Act”)) are effective based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this document.
	(b)	The registrant’s principal executive officer and principal financial officer are aware of no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits.

(a)

Certifications of principal executive officer and principal financial officer of registrant pursuant to Rule 30a-2(a) under the Investment Company Act is attached hereto as Exhibit EX-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.

Global High Income Fund Inc.
By:		/s/ Kai R. Sotorp
		Kai R. Sotorp
		President
Date:		September 28, 2007

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/ Kai R. Sotorp
		Kai R. Sotorp
		President
Date:		September 28, 2007
By:		/s/ Thomas Disbrow
		Thomas Disbrow
		Vice President and Treasurer
Date:		September 28, 2007