With major hurricane Beryl churning across the Caribbean towards Jamaica, the country’s Minister of Finance Dr. Nigel Clarke has highlighted the importance of robust disaster risk financing and responsive parametric risk transfer arrangements that are in-place, including its World Bank catastrophe bond.
Hurricane Beryl remains a major and dangerous storm, with Category 5 winds and is forecast to track close to Jamaica. But with uncertainty in the track still, it remains unclear how impactful it could be for Jamaica.
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