Italy’s government is pushing to approve a borrower-friendly measure on bad loans by the end of the year as part of Prime Minister Giorgia Meloni’s drive to help troubled families and firms amid rising interest rates.
Meloni’s administration is seeking to finalize a new framework that would allow individuals and small corporate borrowers to repay debts that went sour in previous years for a fraction of their nominal value, according to people familiar with the matter, who asked not to be named before the plan is approved.
The proposal was originally laid out late last year by lawmakers close to Meloni and it’s been championed by Urso. Opposition lawmakers have presented a separate bill on the matter. While the parliament is set to start discussing the measures next month, the government could decide to accelerate the approval including the bill in one of its next decrees, the people said.
“The proposed bill caps the maximum recovery on the best credits, while the loans where recoveries are low remain unchanged — this impacts the rationale for their investments,” said Gregorio Consoli, a Milan-based managing partner for finance at law firm Chiomenti.
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