Iraq dollar bonds tumble 1.2 cents amid political unrest, rising death toll

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Iraq dollar bonds tumble 1.2 cents amid political unrest, rising death toll

On Friday, the 4th of October 2019, Iraqi dollar bonds had dropped by 1.2 cents to a nearly four-month low amid surging death tolls stemmed off violent demonstrations and protests across the country against ruling of the grief-sickened nation’s present government of Adil Abdul-Mahdi.

As death tolls rose to 46 so far over the recent leg of Iraqi protests over deteriorating economic conditions alongside rising state corruption that had plagued the energy-rich nation’s economic outlook, the Iraqi 10-year dollar-denominated sovereign bonds was plunged to as low as 95.14 cents, remarking its lowest level in four months, Refinitiv data revealed, while the bonds had witnessed a weekly fall of more than 2 cents.

Aside from that, latest political unrest on Iraq that had drawn attention from policymakers across the globe, which started off back in July 15th, 2015, in Baghdad, over worsening economic outlook and state corruptions as beforementioned, has been spurred into most of the Iraqi cities, while Iraq’s Central and Southern provinces seemed to be more vulnerable.

On top of that, followed by the latest outburst of political upheaval in Iraq, which had been its biggest security threat since the defeat of IS back in the 2017s and would likely to prompt further downward spiral for its dollar denominated bonds, late on Saturday (October 5th), United Nation had called on Iraq to put an end to a “meaningless loss of life. ”