September 8, 2017 / 4:10 PM / a year ago

Mexico evaluating if quake damages will trigger catastrophe bond

MEXICO CITY, Sept 8 (Reuters) - Mexico is evaluating whether the magnitude of a powerful earthquake that struck southern Mexico late on Thursday will trigger a payout from a World Bank-backed catastrophe bond, Finance Minister Jose Antonio Meade said on Friday.

Meade said the bond’s coverage could reach $150 million, depending on its magnitude and location, but he said Mexico has sufficient funds to face clean up from the disaster whether the bond was triggered or not. (Reporting by Sharay Angulo; Editing by Frank Jack Daniel)

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