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: 811-07540

Global High Income Dollar Fund Inc.

(Exact name of registrant as specified in charter)

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

(Address of principal executive offices) (Zip code)

Mark F. Kemper, Esq.
UBS Global Asset Management (US) Inc.
51 West 52nd 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, 2005


Item 1.   Schedule of Investments

Global High Income Dollar Fund Inc.
Portfolio of Investments — July 31, 2005 (Unaudited)

Principal                            
Amount             Maturity     Interest        
(000)             Dates     Rates     Value
Foreign Debt Securities — 92.96%                    
Argentina — 14.17%                    
$   1,500   Banco de Galicia y Buenos Aires     01/01/10     7.190 %†   $ 1,443,750
    5,840   Banco de Galicia y Buenos Aires     01/01/14     4.000 ††     4,964,000
    754   Banco de Galicia y Buenos Aires     01/01/19     11.000       783,976
ARS   46,497   Republic of Argentina     12/31/33     0.051 @     19,947,415
$   12,427   Republic of Argentina (1)     08/03/12     4.005 †     11,463,908
    2,820   Republic of Argentina     04/30/13     5.085 @     2,312,400
    4,165   Republic of Argentina     01/03/16     2.000       2,478,175
                         
                            43,393,624
                         
Brazil — 16.31%                    
$   3,192   Brazil Real Credit-Linked Note     01/03/07     12.364 @     2,520,312
    6,027   Brazil Real Credit-Linked Note     01/05/10     7.391 @     3,014,168
    5,760   Federal Republic of Brazil     10/14/19     8.875       5,955,840
    4,870   Federal Republic of Brazil     04/15/24     8.875       4,943,050
    1,200   Federal Republic of Brazil     01/20/34     8.250       1,142,400
    3,745   Federal Republic of Brazil     08/17/40     11.000       4,400,375
    1,886   Federal Republic of Brazil, DCB     04/15/12     4.313 †     1,824,614
    3,821   Federal Republic of Brazil, DCB     04/15/12     4.313 †     3,687,483
    6,000   Federal Republic of Brazil, DISC     04/15/24     4.250 †     5,670,000
    17,690   Federal Republic of Brazil, PAR     04/15/24     6.000 †     16,805,500
                         
                            49,963,742
                         
Bulgaria — 0.99%                    
$   2,450   Republic of Bulgaria     01/15/15     8.250       3,025,750
                         
Colombia — 0.44%                    
$   1,140   Republic of Colombia     01/28/33     10.375       1,342,350
                         
Dominican Republic — 2.09%                    
$   4,320   Republic of Dominican     09/27/11     9.500       4,665,600
    1,660   Republic of Dominican     01/23/18     9.040       1,747,150
                         
                            6,412,750
                         
Ecuador — 1.65%                    
$   375   Republic of Ecuador     08/15/30     8.000 ††     322,500
    5,500   Republic of Ecuador, 144A     08/15/30     8.000 ††     4,730,000
                         
                            5,052,500
                         
El Salvador — 0.98%                    
$   2,770   Republic of El Salvador     04/10/32     8.250       2,991,600
                         
Germany — 3.55%                    
$   8,500   Aries Vermogensverwaltungs, 144A     10/25/14     9.600       10,880,000
                         
Indonesia — 2.10%                    
$   581   Republic of Indonesia     04/20/15     7.250       584,631
    5,819   Republic of Indonesia, 144A     04/20/15     7.250       5,855,369
                         
                            6,440,000
                         
Malaysia — 3.87%                    
MYR   43,970   Johor Corp.     07/31/12     1.000       11,841,008
                         
Mexico — 9.11%                    
$   1145   Conproca S.A. de C.V.     06/16/10     12.000       1,408,350
MXN   49,000   Mexican Bonos     12/28/06     8.000       4,552,749
    16,500   Mexican Bonos     12/18/14     9.500       1,562,237
$   547   PEMEX Finance Ltd.     05/15/07     8.020       560,841
    8,000   PEMEX Project Funding Master Trust     02/01/22     8.625       9,712,000
    1,250   PEMEX Project Funding Master Trust, 144A     03/30/18     9.250       1,581,250
    3,400   United Mexican States     08/15/31     8.300       4,199,000
    3,762   United Mexican States     04/08/33     7.500       4,313,133
                         
                            27,889,560
                         
Netherlands — 1.98%                    
EUR   606   ING Bank NV (2)     05/31/09     7.517 @     560,636
    1,093   ING Bank NV (2)     05/31/10     6.892 @     943,927
    2,136   ING Bank NV (2)     05/31/11     6.324 @     1,711,243
    1,373   ING Bank NV (2)     05/31/12     5.811 @     1,016,356
UAH   8,270   ING Bank NV     12/30/09     11.890       1,841,080
                         
                            6,073,242
                         

                         
Principal                        
Amount           Maturity   Interest        
(000)           Dates   Rates     Value
Peru — 0.50%                
$   1,360   Republic of Peru   11/21/33   8.750 %   $ 1,543,600
                     
Philippines — 5.97%                
$   8,430   National Power Corp.   03/16/10   9.875       9,083,325
    3,545   Republic of Philippines   03/16/25   10.625       3,930,342
    5,245   Republic of Philippines   02/02/30   9.500       5,287,484
                     
                        18,301,151
                     
Poland — 0.41%                
PLN   4,110   Republic of Poland   06/24/08   5.750       1,254,383
                     
Qatar — 4.49%                
$   9,120   State of Qatar   06/15/30   9.750       13,748,400
                     
Russia — 12.13%                
$   4740   Russian Federation   03/31/10   8.250       5,142,900
    9930   Russian Federation   03/31/30   5.000 ††     10,997,475
    18,984   Russian Federation, 144A   03/31/30   5.000 ††     21,024,325
                     
                        37,164,700
                     
Serbia — 0.56%                
$   2,000   Republic of Serbia   11/01/24   3.750 ††     1,722,500
                     
Turkey — 5.32%                
$   1,470   Republic of Turkey   03/19/08   9.875       1,639,050
    4,102   Republic of Turkey   01/15/30   11.875       5,830,993
    1,060   Republic of Turkey   02/14/34   8.000       1,094,450
TRL   3,872   Turkish Credit-Linked Note   04/27/07   0.000 @     3,277,352
$   4,500   Turkish Credit-Linked Note   07/20/09   6.330       4,450,950
                     
                        16,292,795
                     
Ukraine — 3.01%                
$   2,500   NAK Naftogaz Ukrainy   09/30/09   8.125       2,618,750
    4,170   Republic of Ukraine   06/11/13   7.650       4,587,000
UAH   8,630   Ukraine Credit-Linked Note   12/30/09   0.000 @     2,004,913
                     
                        9,210,663
                     
Uruguay — 0.58%                
$   940   Republic of Uruguay   03/15/15   7.500       925,900
    780   Republic of Uruguay   05/17/17   9.250       844,350
                     
                        1,770,250
                     
Venezuela — 2.75%                
$   2,800   Republic of Venezuela   04/21/25   7.650       2,499,000
    2,790   Republic of Venezuela   09/15/27   9.250       2,905,785
    2,900   Republic of Venezuela   01/13/34   9.375       3,027,600
                     
                        8,432,385
                     
Total Foreign Debt Securities (Cost $260,210,437)               284,746,953
                     
                         
Number of                        
Rights                        
(000)                        
                       
Rights — 0.03%                
Mexico — 0.03%                
    1,885  

United Mexican States Value Recovery Rights, Series D, Expiration Date 06/30/06 (6)

               48,068
    1,885  

United Mexican States Value Recovery Rights, Series E, Expiration Date 06/30/07 (6)

               45,240
                     
Total Rights (Cost $0)               93,308
                     

                         
Principal                        
Amount           Maturity   Interest        
(000)           Dates   Rates       Value
Short-Term Investments — 5.12%                
Russia — 2.16%                
Time Deposit — 2.16%                
$   4,000   Russia Over the Counter                
        time deposits (3)(4)   08/22/05   3.000 %*   $ 3,904,746
    2,710   Russia Over the Counter                
        time deposits (3)(4)   08/22/05   3.500 *     2,699,891
                     
                        6,604,637
                     
United States — 0.18%                
U.S. Government Obligations — 0.18%                
    550   U.S. Treasury Bills (5)   01/05/06   3.319 *     541,779
                     
Number of                        
Shares                        
(000)                        
                       
Other — 2.78% **                
    8,534  

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

       3.353 *     8,533,941
                     
Total Short-Term Investments (Cost $15,785,981)               15,680,357
                     
Total Investments — 98.11% (Cost $275,996,418) #               300,520,618
Cash and other assets, less liabilities — 1.89%               5,801,907
                     
Net Assets — 100.00%             $ 306,322,525
                     


NOTES TO SCHEDULE OF INVESTMENTS
Aggregate cost for federal income tax purposes, which was substantially the same for book purposes, was $275,996,418; and net unrealized appreciation consisted of:

  Gross unrealized appreciation   $25,260,340  
  Gross unrealized depreciation   (736,140 )
     
 
 

Net unrealized appreciation

   $24,524,200  
     
 

Note:   The Portfolio of Investments is listed by the issuer’s country of origin.
†   Reflects rate at July 31, 2005 on variable rate instruments.
††   Reflects rate at July 31, 2005 on step coupon rate instruments.
@   Reflects annualized yield at July 31, 2005 on zero coupon bonds.
*   Interest rate reflects yield at July 31, 2005.
**   Security is issued by a fund that is advised by a related entity of UBS Global Asset Management. (US) Inc., Global High Income Dollar Fund Inc.’s advisor.
(1)   Bond interest in default.
(2)   Security is illiquid. These securities amounted to $4,232,162 or 1.38% of net assets.
(3)   Security is being fair valued by a valuation committee under the direction of the Board of Directors. At July 31, 2005 the value of these securities amounted to $6,604,637 or 2.16% of net assets.
(4)   Security represents a structured product denominated in U.S. dollars which has a foreign currency exposure to the Russian Ruble.
(5)   All or a portion of this security was pledged to cover margin requirements for futures contracts.
(6)   Rights do not currently accrue income. Quarterly income, if any, will vary based on several factors including oil exports, prices and inflation.
144A   Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. At July 31, 2005 the value of these securities amounted to $44,070,944 or 14.39% of net assets.
#   Global High Income Dollar Fund, Inc. (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 which are listed on U.S. 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 (US) Inc. (“UBS Global AM”), the investment advisor and administrator of the Fund.

    UBS Global AM is an indirect wholly owned asset management subsidiary of UBS AG, an internationally diversified organization with headquarters in Zurich, Switzerland and operations in many areas of the financial services industry.
    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.
All investments quoted in foreign currencies will be valued weekly in U.S. dollars on the basis of the foreign currency exchange rates.
    Foreign currency exchange rates are generally determined prior to the close of the NYSE. Occasionally, events affecting the value of the foreign investments and such exchange rates 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 or currency exchange rates 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.
    Securities in which the Fund invests are traded in markets that close before 4:00 p.m. Eastern Time. Normally, developments that occur between the close of the foreign markets and 4:00 p.m. Eastern Time will not be reflected in the Fund’s NAV. However, the Fund may determine that such developments are so significant that they will materially affect the value of the Fund’s securities.
    The Fund may adjust the previous closing prices to reflect what the Board believes to be the fair value of these securities as of 4:00 p.m. Eastern Time.
ARS   Argentina Peso
DCB   Debt Conversion Bond
DISC   Discount Bond
EUR   Euro
MXN   Mexican Peso
MYR   Malaysian Ringgit
PAR   Par Bond
PLN   Polish Zloty
TRL   Turkish Lira
UAH   Ukraine Hryvnia

Forward Foreign Currency Contracts
                        Unrealized
    Contracts to   In   Maturity   Appreciation/
    Deliver   Exchange For   Dates   (Depreciation)
   
Euro     14,000,000     USD   16,978,010   10/21/05   $ (61,801 )
Mexican Peso     62,748,000     USD   5,810,000   08/29/05     (80,409 )
Thai Baht     125,450,000     USD   2,968,879   10/21/05     (44,790 )
Turkish Lira     5,418,347     USD   3,241,026   04/27/07     (261,967 )
United States Dollar     7,661,888     THB   320,650,000   10/21/05     41,046  
                       
 
Total net unrealized depreciation on forward foreign currency contracts       $ (407,921 )
                       
 


Currency Type Abbreviations:
THB   Thai Baht
USD   United States Dollar


Futures Contracts
Global High Income Dollar Fund Inc. had the following open futures contracts as of July 31, 2005:

    Expiration       Current   Unrealized
    Date   Proceeds   Value   Appreciation
   
Index Futures Sale Contracts:                    

U.S. Long Bond (Chicago Board of Trade), 398 contracts

   September 2005   $46,792,872   $45,894,375     $898,497  
                 
 

1) Transactions with Related Entities

The Fund invests in shares of UBS Supplementary Trust — U.S. Cash Management Prime Relationship Fund (“Supplementary Trust”). Supplementary Trust is a business trust managed by UBS Global Asset Management (Americas) Inc., a related entity of UBS Global AM and is offered as a cash management option only to mutual funds and certain other accounts. Distributions from Supplementary Trust are reflected as interest income. Amounts relating to those investments at July 31, 2005 and for the period then ended are summarized as follows:

      Sales     Interest            
Purchases     Proceeds     Income       Value   % of Net Assets
                         
$221,671,141     $223,255,748     $216,715       $8,533,941   2.78%

2) Total Return Swap Agreements

Total return swap agreements involve commitments to pay 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 in the Statement of Operations. Periodic payments received or made at the end of each measurement period, but prior to termination, are recorded as realized gains or losses in the Statement of Operations.

At July 31, 2005, the Fund had outstanding total return swap contracts with the following terms:

            Payments   Payments    
            made by the   received by   Unrealized
    Notional Amount   Termination Date   Fund   the Fund   Appreciation
   
EURO..............   $4,480,000   07/27/07   2.47588%*   11.00%**   $101,350

*        Rate based on 12 month LIBOR (EUR-BBA) plus 29 basis points.
**       Rate is equal to the interest amounts, if any, paid to holders of record of Government of Jamaica bond, due 07/27/2012.
BBA   British Banking Association

Industry Diversification      
As a Percent of Net Assets      
As of July 31, 2005 (Unaudited)      
       
Foreign Debt Securities      

International Corporate Bonds

      

Capital Markets

   0.18 %

Commercial Banks

   4.33  

Construction & Engineering

   0.46  

Diversified Financial Services

   4.54  

Electric Utilities

   2.97  

Oil & Gas

   4.54  
   
 

Total International Corporate Bonds

   17.02  

Foreign Government Bonds

   75.94  
   
 

Total Foreign Debt Securities

   92.96  

Rights

   0.03  

Short-Term Investments

   5.12  
   
 

Total Investments

   98.11  
Cash and other assets, less liabilities   1.89  
   
 
Net Assets   100.00 %
   
 

For more information regarding the Fund’s other significant accounting policies, please refer to the Fund’s semi-annual report to shareholders dated April 30, 2005.


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 Dollar Fund Inc.

By:   /s/ W. Douglas Beck
    W. Douglas Beck
    President

Date:   September 29, 2005

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/ W. Douglas Beck
    W. Douglas Beck
    President

Date:   September 29, 2005

By:   /s/ Thomas Disbrow
    Thomas Disbrow
    Treasurer

Date:   September 29, 2005

For more information regarding the Fund’s other significant accounting policies, please refer to the Fund’s semi-annual report to shareholders dated April 30, 2005.