Iraq's sovereign dollar bond has rallied over the past week indicating investors are still comfortable with the oil-rich country's ability to service the debt despite a worsening political climate. Amid a backdrop of continuing sectarian violence and a possible break-up of the country, Iraq's only outstanding international bond, a US$2.7bn 5.8% 2028 note, was up 1.75 points from the lows of the week before, having plummeted seven points since early June.
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