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The [class a] bonds default if pandemic-related deaths reach 2,500 in a single nation with an additional 20 or more deaths confirmed in an overseas country, according to the bank's prospectus.
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The [class b] bonds pay 11.5% annually, but reach default after 250 deaths. The bonds' payout rate scales with the number of additional countries that experience than 20 confirmed deaths.
Well? Why are they dragging their feet? Even the official numbers have seen more than 2.5k die in China and more than 20 in Iran. The only question now is whether this is incompetence or maliciousness.
I don’t see it. Pandemics are objectively defined. The bonds’ principal pays for relief in the event of a pandemic, meaning a venal WHO would lean towards categorising non-pandemics as pandemics.
> The [class a] bonds default if pandemic-related deaths reach 2,500 in a single nation with an additional 20 or more deaths confirmed in an overseas country, according to the bank's prospectus.
> The [class b] bonds pay 11.5% annually, but reach default after 250 deaths. The bonds' payout rate scales with the number of additional countries that experience than 20 confirmed deaths.
Well? Why are they dragging their feet? Even the official numbers have seen more than 2.5k die in China and more than 20 in Iran. The only question now is whether this is incompetence or maliciousness.