March 13, 2020 / 12:58 PM / 25 days ago

Italy at work on 2.85 bln euro package for debt holiday, soured loans - draft

ROME, March 13 (Reuters) - Italy’s government is studying measures worth in total 2.85 billion euros ($3.2 billion) to support a bank debt moratorium and ease disposals of problem loans, a draft decree seen by Reuters showed.

Italy plans to spend 1.35-2.00 billion euros to provide a state guarantee on mortgages, leasing contracts, current account facilities and short-term loans close to expiring for which banks are freezing repayments, the document showed.

The government, which will discuss the measures later on Friday, is also considering spending 850 million euros in 2020 to support sales of problem loans with tax measures. ($1 = 0.8977 euros) (Reporting by Giuseppe Fonte, writing by Valentina Za, editing by Giulio Piovaccari)

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