Third is the myth that companies have already written off the Iraqi debts and no longer care about them.

Among large countries, only the United States has forgiven all past Iraqi debt.

Most traders in Iraqi debt are no longer wondering whether the embargo will be lifted, but when and how.

Political sensitivities, relating especially to the embargo, make holders of Iraqi debt reluctant to discuss their investment on the record.

One argument against the bullish case for Iraqi debt is that the banks may unload their positions once trading restrictions end.

The Russians say they will refuse to write off their $8 billion in Iraqi debt.

Yes, Russia did not make a secret out of its desire to get back $9bn of Iraqi debt.

Among the subjects discussed were the Iraqi debts to its neighbors and the uprising in Syria.

Cancellation of 80% of Iraqi debt is certainly something to be welcomed.

That, at least, is the hope of those who hold Iraqi debt.