March 10, 2020 / 8:36 AM / 24 days ago

Payments on mortgages to be suspended across Italy after coronavirus outbreak

A man drives an electric scooter along a deserted Via del Corso, after a decree orders for the whole of Italy to be on lockdown in an unprecedented clampdown aimed at beating the coronavirus, in Rome, Italy, March 10, 2020. REUTERS/Remo Casilli - RC2WGF9GCGC8

ROME (Reuters) - Payments on mortgages will be suspended across the whole of Italy after the coronavirus outbreak, Italy’s deputy economy minister said on Tuesday.

“Yes, that will be the case, for individuals and households,” Laura Castelli said in an interview with Radio Anch’io, when asked about the possibility.

Italy’s banking lobby ABI said on Monday lenders representing 90% of total banking assets would offer debt moratoriums to small firms and households grappling with the economic fallout from Italy’s coronavirus outbreak.

Reporting by Giuseppe Fonte, writing by Giulia Segreti; editing by Agnieszka Flak

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