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Italy struggles for repayment as state-backed debts mountain to $127 Billion

The International Monetary Fund forecasts that the Italian economy will contract 0.2% in 2023. Italian companies had a record €123.2 billion ($127 billion) of Covid-era state-backed credit lines outstanding as of June 30, up from €118 billion in the previous quarter.

These debts are putting the newly formed government of Giorgia Meloni in a quandary.(AP)
Published on Nov 28, 2022 11:56 AM IST
Bloomberg | | Posted by Singh Rahul Sunilkumar
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