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Marcus Ashworth

Iraq Sells Bonds. Greed Beats Fear.

Yields like these are hard to come by.
Andia / Contributor

If Argentina can raise money for 100 years, and Greece can print bonds despite still being in a bailout -- then why not Iraq?

The war-torn country has defied conventional logic by issuing a $1 billion five-year security on Wednesday, without the backing of the U.S. The state's declaration of victory over Islamic State in Mosul, the country's second-largest city, has clearly provided the impetus to brave issuing debt on its own.