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Madagascar obtains $29m parametric payout following tropical cyclones: African Risk Capacity - Artemis.bm
In response to the extensive damage caused by tropical cyclones Fytia and Gezaniver, which disrupted essential services and impacted over half a million
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A big macroeconomic shock. The combined financial impact of the recent cyclones, Fytia and Gezani, exceeds $2.47 billion. This was reported in the margins of the official remission of the insurance allowance by the African risk capability (ARC) to the Malagasy Government on Thursday. Returned to Madagascar's gross domestic product of $17.42 billion, the damage caused by these two cyclones thus represented about 14.25% of the annual national weal…
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