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Croatia: New Difficulties for Borrowers Ahead
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The Croat banking sector pegs the interest rates to the EURIBOR. Consumers may have to pay higher borrowing costs.
Croatia: New Difficulties for Borrowers Ahead / Picture: © Vindobona.org
In October, the Croat government and the Parliament have resolved a new credit act. Foreign currency loans must contain a fixed interested rate. The government intended to prevent that forex borrowers have to perform higher instalments in case of a strong increase in exchange rates. Loans nominated in euro or kuna have to be pegged to another reference factor. Due to the new legal…
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