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

Published: Updated:

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 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 death toll has reached 46 people nationwide since Tuesday when the protests began. The unrest has been fueled by popular rage over poor living standards and corruption.