Financial support measures for firms post COVID-19 and their medium-term implications

The article entitled 'Financial support measures for firms post COVID-19 and their medium-term implications', written by researchers from the Bank of Italy, is now online. In order to deal with the economic emergency caused by the pandemic, governments in many countries have adopted broad public guarantee programmes for the loans provided by banks to firms. These measures are essential in the short term to prevent the shortage of liquidity from leading to insolvencies. During the exit from the emergency phase, policies will be needed to pave the way for a reduction in the burden of debt.