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Deadly Virus Fails to Trigger World Bank’s Pandemic Bonds

  • Binding report blocks a potential $132.5 million payout
  • Investors have earned coupons of as high as 14% on the debt
Medical personnel wheel coronavirus patients from an intensive care ward in Paris, France.
Medical personnel wheel coronavirus patients from an intensive care ward in Paris, France.Photographer: Nathan Laine/Bloomberg
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The outbreak of coronavirus failed to trigger payouts from bonds that the World Bank issued to provide emergency pandemic resources, even after almost 100,000 global deaths from Covid-19.