Sponsored
Article Tools

Croatia: Foreign Exchange Loan Conversion Costs € 50m

Published: September 21, 2013; 18:05 · (Vindobona)

In order to help over-indebted Croat households, the government plans to shift the burden to the banking sector.

Croatia: Foreign Exchange Loan Conversion Costs € 50m / Picture: © Flickr

In the years from 2000 to 2008 about 100,000 borrowers took out a foreign currency loan. Now, about 75,000 borrowers are repaying foreign currency loans. Most of them took out Swiss franc loans and euro loans.

Since 2008, the Croat kuna fell against the Swiss franc and the euro. Interest payments went up suddenly. As a result, a large number of Croat borrowers got under pressure.…

This article includes a total of 248 words.

or Log In

Fast News Search
ISIN
AT0000652011, AT0000606306