Top Stories
Top Stories

Mini-bills are in Italy's govt contract- League economics chief

MILAN, June 14 (Reuters) - A plan for the state to issue short-term debt to settle overdue payments to businesses is included in a government contract signed by the two parties in Italy's ruling coalition, the League's chief economist said on Friday.

Asked whether the Rome government would go ahead with plans to issue so-called "mini-BOTs," which have been criticized by both the International Monetary Fund and the European Central Bank, Claudio Borghi told reporters: "Mini-BOTs are in the government contract."

BOTs are short-term bills with maturity of between three months and a year. He was speaking on the sidelines of a conference held by market watchdog Consob in Milan. (Reporting by Andrea Mandala, writing by Silvia Aloisi, editing by Valentina Za)