ECONOMY

Ban on auctions extended until end-September

ban-on-auctions-extended-until-end-september

The caretaker government extended on Tuesday the ban on debt auctions until September 30, agreed as a temporary measure at the end of July.

The ban was deemed necessary due to the limits on cash withdrawals and transfers, which had made it even more difficult for a large portion of households to service their debts to the state or private parties.

The decision has been signed by the ministers of finance and justice.

Besides the ban on auctions, there is also a gentlemen’s agreement in place with banks for them to hold off on auctioning certain debtors’ primary residences, depending on income and property criteria.