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Croatia: New Difficulties for Borrowers Ahead
The Croat banking sector pegs the interest rates to the EURIBOR. Consumers may have to pay higher borrowing costs.

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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