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Europe > Iceland

You are looking at 1 - 2 of 2 items for :

  • Type: Journal Issue x
  • Corporate Finance and Governance: Government Policy and Regulation x
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Cover Staff Discussion Notes
Insolvency Prospects Among Small-and-Medium-Sized Enterprises in Advanced Economies: Assessment and Policy Options
Mr. Federico J Diez
,
Mr. Romain A Duval
,
Jiayue Fan
,
Jose M Garrido
,
Sebnem Kalemli-Ozcan
,
Chiara Maggi
,
Mr. Maria Soledad Martinez Peria
, and
Mr. Nicola Pierri
The COVID-19 pandemic has increased insolvency risks, especially among small and medium enterprises (SMEs), which are vastly overrepresented in hard-hit sectors. Without government intervention, even firms that are viable a priori could end up being liquidated—particularly in sectors characterized by labor-intensive technologies, threatening both macroeconomic and social stability. This staff discussion note assesses the impact of the pandemic on SME insolvency risks and policy options to address them. It quantifies the impact of weaker aggregate demand, changes in sectoral consumption patterns, and lockdowns on firm balance sheets and estimates the impact of a range of policy options, for a large sample of SMEs in (mostly) advanced economies.
Keywords:
Insolvency; Bankruptcy; “Quasi” Equity Injections; Small- and medium-size enterprises; COVID-19; insolvent firm; cash position; equity injection; illiquid firm; firm exit; cash flow; Solvency; Small and medium enterprises; Stocks; Financial statements; Southern Europe; Asia and Pacific
Cover IMF Working Papers
A Strategy for Developing a Market for Nonperforming Loans in Italy
Nadège Jassaud
and
Mr. Kenneth H Kang
Addressing the buildup of nonperforming loans (NPLs) in Italy since the global financial crisis will remain a challenge for some time and be important for supporting a sustained, robust economic recovery. The buildup reflects both the prolonged recession as well as structural factors that have held back NPL write-offs by banks. The paper discusses the impediments to NPL resolution in Italy and a strategy for fostering a market for restructuring distressed assets that could support corporate and financial restructuring.
Keywords:
WP; nonperforming loan; loan; debt market; NPL resolution; private equity; restructuring npls; NPLs; NPL disposal; distressed assets; problem loans; bad debt; write-offs; corporate restructuring; debt restructuring; bad bank; AMCs; Asset Quality Review; Balance Sheet Assesment; Resolution; NPL ratio; loan restructuring effort; resolution target; book value; NPL write-off; restructuring market; NPL asset management companies; Nonperforming loans; Loans; Collateral; Europe; Global