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Croatia: New Difficulties for Borrowers Ahead

Published: December 6, 2013; 07:53 · (Vindobona)

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: ©

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…

This article includes a total of 138 words.

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