- The Washington Times - Sunday, January 15, 2006

This week, bonds issued by the Republic of Iraq open for trading in London, marking the Iraqi government’s first appearance in the international bond markets.

The bonds, worth about $2.8 billion, are part of the country’s ongoing debt-restructuring efforts. The bonds will go directly to creditors as part of a “debt swap” to handle claims of about $14 billion from as far back as the early 1980s.

The London Times reported last week that Iraqi Finance Minister Ali Allawi hailed the move as “a milestone on the path toward resolving Iraq’s Saddam-era debt.”

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