Iraqi assets surge as stability returns
Things are looking up in Iraq. Security has improved and oil production hit its highest level since the US-led invasion. And the Iraqi dinar is up 12% against the dollar.
Things are looking up in Iraq. Following the surge of troops, security has improved and oil production hit its highest level since the invasion in the second quarter; oil exports should rise to $86bn this year more than double the average of 2005-2007 creating a $52.3bn budget surplus, according to the American government.
The improving backdrop is reflected in the Iraqi dinar's 12% rise against the dollar since early 2007 and the 45% increase in the price of the Iraqi sovereign bond since August 2007.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Is the Office for National Statistics in turmoil?
Britain’s statistics authority, the Office for National Statistics, is increasingly unfit for purpose. Why, and what can be done?
By Simon Wilson Published
-
Saba Capital and Boaz Weinstein respond to investment trusts
As investment trust managers and industry experts accuse Saba of self-motivated opportunism, the hedge fund responds to specific "misleading claims" and sets out its stall
By Dan McEvoy Published