Coronavirus, the MEF announces at least one issue of Btp Italia and the launch of a new bond dedicated to Italian savers

The Ministry of Economy and Finance will launch, in addition to Btp Italy that this year we will see at least one problem, “TO new tool nominal type, particularly simple and without indexing mechanisms, specifically dedicated to retail investors, which can be proposed on several occasions throughout the year. “It can be read in the Debt management guidelines., updated in light of coronavirus. Therefore, comes the confirmation of the MEF’s willingness to launch a new bond dedicated to Italian savers: as underlined by the deputy minister Antonio Misiani, already for the April decree “we will have to do anyway additional deficit“If then the no ai is confirmed 36 billion euros foreseen by the new credit line of the Month (which must be defined by the European Council on April 23), the government will have to find new resources for the “financing of expenses for theemergency and for him relaunch of the national economy, “as indicated in the new Treasury guidelines.

The ministry only talks about “a new tool dedicated to private savers that can be proposed on several occasions during 2020 ″, which will join the new number of Btp Italia to allow a broader participation from retail investors. So there are no details. More than a week ago, Misiani himself spoke of the need to mobilize “1,400 billion retention in current accounts and household deposits “. The latest issues of Btp Italia in November 2018, in full debate between the executive and the EU Commission about the maneuver, it was a failure. This is also the reason why the new tool should be tastier: we think, for example, of a strong reduction in taxes in interests.

The MEF guidelines are still confirmed in calendar auctions already released earlier this year and the emission plans announced before the pandemic related, for example, to the issue of green link and upon returning to dollar market. “The priority will be the beginning of new ways of emitting and debt management in accordance with the guidelines, “adds the ministry in a note.

The debate on the issuance of very long-term government securities was last revived today by Romano Prodi that, invited in Radio 24, said that “he perfectly agrees” with the proposal of Giulio Tremonti for a reconstruction loan. “It would be a way to avoid it more serious problems, avoid assets of all kinds, “said the former prime minister. Tremonti had launched his proposal on March 30 in the Corriere della Sera: a loan irredeemable tax-exempt, modeled after the post-war reconstruction that began in 1948.