Could Portugal be the first European country to issue catastrophe-linked debt? Five questions and answers to understand what is at stake

The Portuguese Treasury (IGCP) is studying the implementation of 'catastrophe bonds' (cat bonds). This financial instrument would allow the state to be exempt from repaying debt if a predetermined natural disaster occurs.

Why it matters

While this is a sovereign debt strategy and not a change to your personal finances, it signals the government's approach to managing the financial risks of climate-related disasters in Portugal.

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