<PAGE> PAGE 1
000 A000000 06/30/97
000 C000000 0000862681
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 ML SHORT-TERM GLOBAL INCOME FUND, INC.
001 B000000 811-6089
001 C000000 6092822800
002 A000000 P.O. BOX 9011
002 B000000 PRINCETON
002 C000000 NJ
002 D010000 08543
002 D020000 9011
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 MERRILL LYNCH ASSET MANAGEMENT, L.P.
008 B000001 A
008 C000001 801-11583
008 D010001 PRINCETON
008 D020001 NJ
008 D030001 08543
008 D040001 9011
008 A000002 MERRILL LYNCH ASSET MANAGEMENT U.K., LTD.
008 B000002 S
008 C000002 801-31780
008 D010002 LONDON
008 D050002 ENGLAND
008 D060002 EC24 9LY
011 A000001 MERRILL LYNCH FUNDS DISTRIBUTOR, INC.
011 B000001 8-14663
011 C010001 PRINCETON
011 C020001 NJ
011 C030001 08543
<PAGE> PAGE 2
011 C040001 9011
012 A000001 MERRILL LYNCH FINANCIAL DATA SERVICES, INC.
012 B000001 84-01339
012 C010001 JACKSONVILLE
012 C020001 FL
012 C030001 32246
012 C040001 6484
013 A000001 DELOITTE & TOUCHE LLP
013 B010001 PRINCETON
013 B020001 NJ
013 B030001 08540
014 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
014 B000001 8-7221
015 A000001 THE CHASE MANHATTAN BANK
015 B000001 C
015 C010001 BROOKLYN
015 C020001 NY
015 C030001 11245
015 E010001 X
015 A000002 CREDITANSTALT-BANKVEREIN
015 B000002 S
015 C010002 VIENNA
015 D010002 AUSTRIA
015 E040002 X
015 A000003 GENERALE BANK
015 B000003 S
015 C010003 BRUSSELS
015 D010003 BELGIUM
015 E040003 X
015 A000004 BANCO CHASE MANHATTAN, S.A.
015 B000004 S
015 C010004 RIO DE JANEIRO
015 D010004 BRAZIL
015 E040004 X
015 A000005 ROYAL BANK OF CANADA
015 B000005 S
015 C010005 TORONTO
015 D010005 CANADA
015 E040005 X
015 A000006 DEN DANSKE BANK
015 B000006 S
015 C010006 COPENHAGEN
015 D010006 DENMARK
015 E040006 X
015 A000007 KANSALLIS-OSAKE-PANKKI
015 B000007 S
015 C010007 HELSINKI
015 D010007 FINLAND
015 E040007 X
015 A000008 BANQUE PARIBAS
015 B000008 S
<PAGE> PAGE 3
015 C010008 PARIS
015 D010008 FRANCE
015 E040008 X
015 A000009 CHASE BANK A.G.
015 B000009 S
015 C010009 FRANKFURT
015 D010009 GERMANY
015 E040009 X
015 A000010 THE BANK OF NEW YORK
015 B000010 S
015 C010010 NEW YORK
015 C020010 NY
015 C030010 10015
015 E010010 X
015 A000011 BANKERS TRUST COMPANY
015 B000011 S
015 C010011 NEW YORK
015 C020011 NY
015 C030011 10006
015 E010011 X
015 A000012 BANK OF IRELAND
015 B000012 S
015 C010012 DUBLIN
015 D010012 IRELAND
015 E040012 X
015 A000013 CHEMICAL BANK
015 B000013 S
015 C010013 NEW YORK
015 C020013 NY
015 C030013 10017
015 E010013 X
015 A000014 CEDEL, S.A.
015 B000014 S
015 C010014 LUXEMBOURG
015 D010014 LUXEMBOURG
015 E040014 X
015 A000015 CITIBANK, N.A.
015 B000015 S
015 C010015 NEW YORK
015 C020015 NY
015 C030015 10015
015 E010015 X
015 A000016 ABN-AMRO BANK N.V.
015 B000016 S
015 C010016 AMSTERDAM
015 D010016 NETHERLANDS
015 E040016 X
015 A000017 NATIONAL NOMINEES LIMITED
015 B000017 S
015 C010017 AUCKLAND
015 D010017 NEW ZEALAND
<PAGE> PAGE 4
015 E040017 X
015 A000018 DEN NORSKE BANK
015 B000018 S
015 C010018 OSLO
015 D010018 NORWAY
015 E040018 X
015 A000019 THE CHASE MANHATTAN BANK AUSTRALIA LIMITED
015 B000019 S
015 C010019 SYDNEY
015 D010019 AUSTRALIA
015 E040019 X
015 A000020 HONG KONG AND SHANGHAI BANKING CORP. LTD
015 B000020 S
015 C010020 HONG KONG
015 D010020 HONG KONG
015 E040020 X
015 A000021 CUSTODIAL TRUST CO.
015 B000021 S
015 C010021 NEW YORK
015 C020021 NY
015 C030021 10167
015 E010021 X
015 A000022 CANADA TRUST COMPANY
015 B000022 S
015 C010022 TORONTO
015 D010022 CANADA
015 E040022 X
015 A000023 SKANDINAVISKA ENSKILDA BANKEN
015 B000023 S
015 C010023 STOCKHOLM
015 D010023 SWEDEN
015 E040023 X
015 A000024 UNION BANK OF SWITZERLAND
015 B000024 S
015 C010024 ZURICH
015 D010024 SWITZERLAND
015 E040024 X
015 A000025 MORGAN GUARANTY TRUST CO.
015 B000025 S
015 C010025 NEW YORK
015 C020025 NY
015 C030025 10260
015 E010025 X
015 A000026 CAJA DE VALORES
015 B000026 S
015 C010026 ARGENTINA
015 D010026 ARGENTINA
015 E040026 X
015 A000027 THE CHASE MANHATTAN BANK (M) BERHAD
015 B000027 S
015 C010027 MALAYSIA
<PAGE> PAGE 5
015 D010027 MALAYSIA
015 E040027 X
015 A000028 RITS
015 B000028 S
015 C010028 AUSTRALIA
015 D010028 AUSTRALIA
015 E040028 X
015 A000029 OESTERREICHISCHE KONTROLLBANK
015 B000029 S
015 C010029 AUSTRIA
015 D010029 AUSTRIA
015 E040029 X
015 A000030 CIK
015 B000030 S
015 C010030 BELGIUM
015 D010030 BELGIUM
015 E040030 X
015 A000031 SAO PAULO STOCK EXCHANGE
015 B000031 S
015 C010031 BRAZIL
015 D010031 BRAZIL
015 E040031 X
015 A000032 CDS
015 B000032 S
015 C010032 CANADA
015 D010032 CANADA
015 E040032 X
015 A000033 SCP
015 B000033 S
015 C010033 CZECH REPUBLIC
015 D010033 CZECH REPUBLIC
015 E040033 X
015 A000034 VP CENTER
015 B000034 S
015 C010034 DENMARK
015 D010034 DENMARK
015 E040034 X
015 A000035 PANKKITARKASTUS VIRASTO
015 B000035 S
015 C010035 FINLAND
015 D010035 FINLAND
015 E040035 X
015 A000036 SICOVAM
015 B000036 S
015 C010036 FRANCE
015 D010036 FRANCE
015 E040036 X
015 A000037 DEUTSCHER KASSENVEREIN A.G.
015 B000037 S
015 C010037 GERMANY
015 D010037 GERMANY
<PAGE> PAGE 6
015 E040037 X
015 A000038 MONTE TITOLI
015 B000038 S
015 C010038 ITALY
015 D010038 ITALY
015 E040038 X
015 A000039 MCD
015 B000039 S
015 C010039 MALAYSIA
015 D010039 MALAYSIA
015 E040039 X
015 A000040 INDEVAL
015 B000040 S
015 C010040 MEXICO
015 D010040 MEXICO
015 E040040 X
015 A000041 NECIGEF/KAS ASSOCIATIE NV
015 B000041 S
015 C010041 NETHERLANDS
015 D010041 NETHERLANDS
015 E040041 X
015 A000042 VPS
015 B000042 S
015 C010042 NORWAY
015 D010042 NORWAY
015 E040042 X
015 A000043 NDS
015 B000043 S
015 C010043 POLAND
015 D010043 POLAND
015 E040043 X
015 A000044 CENTRAL DE VALORES MOBILAROS
015 B000044 S
015 C010044 PORTUGAL
015 D010044 PORTUGAL
015 E040044 X
015 A000045 CDP
015 B000045 S
015 C010045 SINGAPORE
015 D010045 SINGAPORE
015 E040045 X
015 A000046 FIRST NATIONAL BANK OF CHICAGO
015 B000046 S
015 C010046 LONDON
015 D010046 ENGLAND
015 E010046 X
015 A000047 CESKOSLOVENSKA OBCHODNI BANK, A.S.
015 B000047 S
015 C010047 PRAGUE
015 D010047 CZECH REPUBLIC
015 E040047 X
<PAGE> PAGE 7
015 A000048 BANK HANDLOWY W WARZAWIE
015 B000048 S
015 C010048 WARSAW
015 D010048 POLAND
015 E040048 X
015 A000049 BANCO ESPIRITO SANTO E COMMERCIAL DE LISBOA
015 B000049 S
015 C010049 LISBON
015 D010049 PORTUGAL
015 E040049 X
015 A000050 STANDARD BANK OF SOUTH AFRICA
015 B000050 S
015 C010050 JOHANNESBURG
015 D010050 SO. AFRICA
015 E040050 X
015 A000051 BANK BRUXELLES LAMBERT
015 B000051 S
015 C010051 MADRID
015 D010051 SPAIN
015 E040051 X
015 A000052 KSDC
015 B000052 S
015 C010052 SOUTH KOREA
015 D010052 SOUTH KOREA
015 E040052 X
015 A000053 SCL
015 B000053 S
015 C010053 SPAIN
015 D010053 SPAIN
015 E040053 X
015 A000054 VPC
015 B000054 S
015 C010054 SWEDEN
015 D010054 SWEDEN
015 E040054 X
015 A000055 SEGA
015 B000055 S
015 C010055 SWITZERLAND
015 D010055 SWITZERLAND
015 E040055 X
015 A000056 TSCD
015 B000056 S
015 C010056 TAIWAN
015 D010056 TAIWAN
015 E040056 X
015 A000057 SDC
015 B000057 S
015 C010057 THAILAND
015 D010057 THAILAND
015 E040057 X
015 A000058 CGO
<PAGE> PAGE 8
015 B000058 S
015 C010058 UNITED KINGDOM
015 D010058 UNITED KINGDOM
015 E040058 X
015 A000059 CMO
015 B000059 S
015 C010059 UNITED KINGDOM
015 D010059 UNITED KINGDOM
015 E040059 X
015 A000060 AUSTRACLEAR LIMITED
015 B000060 S
015 C010060 AUSTRALIA
015 D010060 AUSTRALIA
015 E040060 X
015 A000061 THE BANK OF ENGLAND
015 B000061 S
015 C010061 UNITED KINGDOM
015 D010061 UNITED KINGDOM
015 E040061 X
015 A000062 AUSTRACLEAR NZ
015 B000062 S
015 C010062 NEW ZEALAND
015 D010062 NEW ZEALAND
015 E040062 X
015 A000063 CHASE MANHATTAN BANK MEXICO, S.A.
015 B000063 S
015 C010063 MEXICO
015 D010063 MEXICO
015 E040063 X
015 A000064 BANCO DE NACIONAL MEXICO
015 B000064 S
015 C010064 MEXICO
015 D010064 MEXICO
015 E040064 X
015 A000065 CREST
015 B000065 S
015 C010065 UNITED KINGDOM
015 D010065 UNITED KINGDOM
015 E040065 X
015 A000066 PCD
015 B000066 S
015 C010066 PHILIPPINES
015 D010066 PHILIPPINES
015 E040066 X
018 000000 Y
019 A000000 Y
019 B000000 195
019 C000000 MERRILLLYN
020 C000001 0
020 C000002 0
020 C000003 0
<PAGE> PAGE 9
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 HSBC SECURITIES, INC.
022 B000001 13-2650272
022 C000001 954535
022 D000001 0
022 A000002 MORGAN (J.P.) SECURITIES INC.
022 B000002 13-3224016
022 C000002 760601
022 D000002 0
022 A000003 GENERAL MOTORS ACCEPTANCE CORP.
022 C000003 395699
022 D000003 0
022 A000004 DRESDNER KLEINWORT BENSON NORTH AMERICA LLC
022 B000004 13-3894311
022 C000004 278440
022 D000004 43936
022 A000005 MORGAN STANLEY & CO. INCORPORATED
022 B000005 13-2655998
022 C000005 309104
022 D000005 0
022 A000006 BZW SECURITIES INC.
022 B000006 13-3551367
022 C000006 151000
022 D000006 0
022 A000007 SANWA SECURITIES (USA) CO., L.P.
022 B000007 13-3046258
022 C000007 151000
022 D000007 0
022 A000008 CHASE SECURITIES INC.
022 B000008 13-3112953
022 C000008 145000
022 D000008 0
022 A000009 CREDIT SUISSE FIRST BOSTON CORPORATION
022 B000009 13-5659485
022 C000009 142899
022 D000009 0
022 A000010 GOLDMAN, SACHS & CO.
022 B000010 13-5108880
022 C000010 124100
022 D000010 0
023 C000000 3728303
023 D000000 139365
024 000000 N
026 A000000 N
<PAGE> PAGE 10
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A010000 2197
028 A020000 370
028 A030000 0
028 A040000 10703
028 B010000 754
028 B020000 450
028 B030000 0
028 B040000 7814
028 C010000 278
028 C020000 434
028 C030000 0
028 C040000 9856
028 D010000 357
028 D020000 424
028 D030000 0
028 D040000 8943
028 E010000 3301
028 E020000 511
028 E030000 0
028 E040000 10804
028 F010000 6628
028 F020000 407
028 F030000 0
028 F040000 13987
028 G010000 13515
028 G020000 2596
028 G030000 0
028 G040000 62107
028 H000000 69
029 000000 Y
030 A000000 1
030 B000000 4.00
030 C000000 0.00
031 A000000 0
031 B000000 0
032 000000 0
033 000000 1
034 000000 Y
035 000000 37
036 A000000 N
036 B000000 0
037 000000 N
<PAGE> PAGE 11
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 100
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 819
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.000
048 A010000 2000000
048 A020000 0.550
048 B010000 2000000
048 B020000 0.525
048 C010000 2000000
048 C020000 0.500
048 D010000 4000000
048 D020000 0.475
048 E010000 5000000
048 E020000 0.450
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 15000000
048 K020000 0.425
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
<PAGE> PAGE 12
054 G000000 N
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
055 A000000 N
055 B000000 N
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 N
060 B000000 N
061 000000 0
062 A000000 Y
062 B000000 21.7
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 5.3
062 K000000 0.0
062 L000000 77.1
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 91
063 B000000 0.0
064 A000000 N
064 B000000 N
066 A000000 N
067 000000 N
068 A000000 N
068 B000000 Y
069 000000 N
070 A010000 Y
070 A020000 N
070 B010000 N
070 B020000 N
070 C010000 Y
070 C020000 Y
070 D010000 N
<PAGE> PAGE 13
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 Y
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 Y
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 Y
070 R020000 N
071 A000000 132381
071 B000000 125795
071 C000000 81502
071 D000000 154
072 A000000 6
072 B000000 7254
072 C000000 0
072 D000000 0
072 E000000 0
072 F000000 631
072 G000000 55
072 H000000 0
072 I000000 191
072 J000000 40
072 K000000 0
072 L000000 32
072 M000000 21
072 N000000 40
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 51
<PAGE> PAGE 14
072 S000000 22
072 T000000 819
072 U000000 0
072 V000000 0
072 W000000 0
072 X000000 1902
072 Y000000 0
072 Z000000 5352
072AA000000 8214
072BB000000 6292
072CC010000 0
072CC020000 4264
072DD010000 432
072DD020000 4920
072EE000000 0
073 A010000 0.0000
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 2473
074 B000000 0
074 C000000 206641
074 D000000 0
074 E000000 0
074 F000000 0
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 0
074 K000000 0
074 L000000 3671
074 M000000 476
074 N000000 213261
074 O000000 2182
074 P000000 214
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 1678
074 S000000 0
074 T000000 209187
074 U010000 2017
074 U020000 25022
074 V010000 0.00
074 V020000 0.00
074 W000000 0.0000
074 X000000 28732
074 Y000000 0
075 A000000 0
075 B000000 232719
<PAGE> PAGE 15
076 000000 0.00
077 A000000 N
078 000000 N
SIGNATURE GERALD M. RICHARD
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000862681
<NAME> MERRILL LYNCH SHORT TERM GLOBAL INCOME FUND, INC.
<SERIES>
<NUMBER> 001
<NAME> CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 209630710
<INVESTMENTS-AT-VALUE> 206641147
<RECEIVABLES> 3670719
<ASSETS-OTHER> 2948800
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 213260666
<PAYABLE-FOR-SECURITIES> 2182270
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1890923
<TOTAL-LIABILITIES> 4073193
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 256836929
<SHARES-COMMON-STOCK> 879
<SHARES-COMMON-PRIOR> 340
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (44959986)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2689470)
<NET-ASSETS> 6863
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7254031
<OTHER-INCOME> 0
<EXPENSES-NET> (1901933)
<NET-INVESTMENT-INCOME> 5352098
<REALIZED-GAINS-CURRENT> 1922147
<APPREC-INCREASE-CURRENT> (4264379)
<NET-CHANGE-FROM-OPS> 3009866
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (86)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 572
<NUMBER-OF-SHARES-REDEEMED> (51)
<SHARES-REINVESTED> 18
<NET-CHANGE-IN-ASSETS> (48337907)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (46882133)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 631210
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1901933
<AVERAGE-NET-ASSETS> 3182
<PER-SHARE-NAV-BEGIN> 7.89
<PER-SHARE-NII> .21
<PER-SHARE-GAIN-APPREC> (.08)
<PER-SHARE-DIVIDEND> (.21)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.81
<EXPENSE-RATIO> .89
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000862681
<NAME> MERRILL LYNCH SHORT TERM GLOBAL INCOME FUND, INC.
<SERIES>
<NUMBER> 002
<NAME> CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 209630710
<INVESTMENTS-AT-VALUE> 206641147
<RECEIVABLES> 3670719
<ASSETS-OTHER> 2948800
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 213260666
<PAYABLE-FOR-SECURITIES> 2182270
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1890923
<TOTAL-LIABILITIES> 4073193
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 256836929
<SHARES-COMMON-STOCK> 25001606
<SHARES-COMMON-PRIOR> 30649850
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (44959986)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2689470)
<NET-ASSETS> 193425997
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7254031
<OTHER-INCOME> 0
<EXPENSES-NET> (1901933)
<NET-INVESTMENT-INCOME> 5352098
<REALIZED-GAINS-CURRENT> 1922147
<APPREC-INCREASE-CURRENT> (4264379)
<NET-CHANGE-FROM-OPS> 3009866
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4916354)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1675619
<NUMBER-OF-SHARES-REDEEMED> (7628689)
<SHARES-REINVESTED> 304826
<NET-CHANGE-IN-ASSETS> (48337907)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (46882133)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 631210
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1901933
<AVERAGE-NET-ASSETS> 215600834
<PER-SHARE-NAV-BEGIN> 7.81
<PER-SHARE-NII> .18
<PER-SHARE-GAIN-APPREC> (.07)
<PER-SHARE-DIVIDEND> (.18)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.74
<EXPENSE-RATIO> 1.70
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000862681
<NAME> MERRILL LYNCH SHORT TERM GLOBAL INCOME FUND, INC.
<SERIES>
<NUMBER> 003
<NAME> CLASS C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 209630710
<INVESTMENTS-AT-VALUE> 206641147
<RECEIVABLES> 3670719
<ASSETS-OTHER> 2948800
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 213260666
<PAYABLE-FOR-SECURITIES> 2182270
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1890923
<TOTAL-LIABILITIES> 4073193
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 256836929
<SHARES-COMMON-STOCK> 20296
<SHARES-COMMON-PRIOR> 20253
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (44959986)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2689470)
<NET-ASSETS> 154331
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7254031
<OTHER-INCOME> 0
<EXPENSES-NET> (1901933)
<NET-INVESTMENT-INCOME> 5352098
<REALIZED-GAINS-CURRENT> 1922147
<APPREC-INCREASE-CURRENT> (4264379)
<NET-CHANGE-FROM-OPS> 3009866
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3723)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 22302
<NUMBER-OF-SHARES-REDEEMED> (22303)
<SHARES-REINVESTED> 44
<NET-CHANGE-IN-ASSETS> (48337907)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (46882133)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 631210
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1901933
<AVERAGE-NET-ASSETS> 164039
<PER-SHARE-NAV-BEGIN> 7.67
<PER-SHARE-NII> .17
<PER-SHARE-GAIN-APPREC> (.07)
<PER-SHARE-DIVIDEND> (.17)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.60
<EXPENSE-RATIO> 1.72
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000862681
<NAME> MERRILL LYNCH SHORT TERM GLOBAL INCOME FUND, INC.
<SERIES>
<NUMBER> 004
<NAME> CLASS D
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 209630710
<INVESTMENTS-AT-VALUE> 206641147
<RECEIVABLES> 3670719
<ASSETS-OTHER> 2948800
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 213260666
<PAYABLE-FOR-SECURITIES> 2182270
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1890923
<TOTAL-LIABILITIES> 4073193
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 256836929
<SHARES-COMMON-STOCK> 2015813
<SHARES-COMMON-PRIOR> 2296911
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (44959986)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2689470)
<NET-ASSETS> 15600282
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7254031
<OTHER-INCOME> 0
<EXPENSES-NET> (1901933)
<NET-INVESTMENT-INCOME> 5352098
<REALIZED-GAINS-CURRENT> 1922147
<APPREC-INCREASE-CURRENT> (4264379)
<NET-CHANGE-FROM-OPS> 3009866
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (431935)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 156638
<NUMBER-OF-SHARES-REDEEMED> (467543)
<SHARES-REINVESTED> 29807
<NET-CHANGE-IN-ASSETS> (48337907)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (46882133)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 631210
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1901933
<AVERAGE-NET-ASSETS> 16950800
<PER-SHARE-NAV-BEGIN> 7.81
<PER-SHARE-NII> .20
<PER-SHARE-GAIN-APPREC> (.07)
<PER-SHARE-DIVIDEND> (.20)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.74
<EXPENSE-RATIO> 1.16
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>