Coronavirus: Italy to suspend mortgage payments amid outbreak

  10 March 2020    Read: 1256
Coronavirus: Italy to suspend mortgage payments amid outbreak @Getty Images

Mortgage payments will be suspended across Italy as part of measures to soften the economic blow of coronavirus on households, a minister has said, BBC reported.

Laura Castelli, Italy's deputy economy minister, told Radio Anch'io: "Yes, that will be the case, for individuals and households."

Italy's banking lobby group ABI said lenders would offer debt holidays to small firms and families.

Suspending debt payments is not unheard of in Italy.

Some small businesses and families were given time off during the financial crisis before having to repay.

Italy has extended its emergency coronavirus measures, which include travel restrictions and a ban on public gatherings, to the entire country.

On Monday, Prime Minister Giuseppe Conte ordered people to stay home and seek permission for essential travel.

Italy's coronavirus death toll jumped from 366 to 463 on Monday. It is the worst-hit country after China.

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