President Josipovic: Croatia not to go further into debt.

By bne IntelliNews July 15, 2010
President Ivo Josipovic commented the government's decision on a new borrowing of HRK 13.4bn (EUR 1.9bn) by stating that he preferred the country not to go further into debt. He expressed hope that the domestic financial problems would be resolved without further borrowing. The government has so far approved three bonds issues for the total amount of HRK 13.4bn. Two of the bonds will be for HRK 1.5bn and will be issued at fixed interest rate of 6.75%, while the third one will be for EUR 650mn and will be offered at interest rate of 6.5%. The maturity of the bonds is 10 years. The borrowing will be used for financing current budget liabilities and refinancing liabilities, which will be due in the coming period.

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