October 4, 2019 / 1:27 PM / 19 days ago

Iraq dollar bonds tumble 1.2 cents amid unrest, surging death toll

LONDON, Oct 4 (Reuters) - Iraq’s dollar-denominated sovereign debt dropped 1.2 cents to a four month low on Friday after the death toll from days of violent demonstrations across the country surged to 46 amid rapidly accelerating unrest.

The 2028 issue fell to as little as 95.14 cents - the lowest level in four months, according to data from Refinitiv. The bonds have fallen more than 2 cents since the start of the week.

The unrest, fuelled by popular rage over poor living standards and corruption, is Iraq’s biggest security challenge since the defeat of Islamic State in 2017. (Reporting by Karin Strohecker; Editing by Tom Arnold)

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