Sep 14, 2012
Iraq’s sovereign debt outperformed issues from the region this year, with hedge fund managers betting on healthy oil revenues and growing economic and financial strength for the country.
But the current political crisis has raised worries the recent bond rally may fizzle out.
The Paris Club agreement was set up in 2004 to restructure Iraq’s pre-Saddam era public debt of US$37 billion (Dh135.9bn), of which creditors agreed to cancel 80 per cent, while the remaining $7.4bn was rescheduled into a series of loans denominated in currencies. (more…)
