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.
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