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Italy's insolvency reform should also apply to existing bad loans - IMF
October 5, 2016 / 1:32 PM / a year ago

Italy's insolvency reform should also apply to existing bad loans - IMF

MILAN, Oct 5 (Reuters) - Italy’s recent reform on insolvency should be extended to cover existing non-performing loans and not just new ones, the International Monetary Fund said in its Global Financial Stability Report published on Wednesday.

In comments relating to the restructuring plan of Monte dei Paschi di Siena, the IMF said that tackling the lack of capital for weaker banks was important for guaranteeing the stability of the system as a whole and supporting the economy.

Reporting by Alessia Pe; writing by Francesca Landini

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