Jamaica’s solo cat bond to cover cyclones or earthquakes

Jamaica_Adobe_230x150
By Jasper Cox
22 May 2019

Jamaica has gone beyond an existing programme with other countries in its region in order to beef up its defences against natural disasters by deciding to work with the World Bank to prepare a catastrophe bond. The deal may also have ramifications for the sustainability of its debt.

The country’s finance and public service minister Nigel Clarke announced earlier this month that the World Bank is giving the government the expertise to develop the bond, according to the Jamaica Information Service, the government’s news agency.

A cat bond gives a country a form of insurance: the ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial