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Croatia's foreign debt now close to 50 billion Euros
Croatian Times
Croatia's gross foreign debt at the end of April 2012 reached 47.4 billion Euros, an increase of 1.7 billion Euros compared to the end of last year, reported the Croatian National Bank on Wednesday.
After a slight increase during the first quarter of this year, Croatia's gross foreign debt has risen strongly in April, driven primarily by new borrowing by the central government, which in April issued bonds in the U.S. market worth 1.5 billion USD.
Analysts say that the increased debt was also due to the takeover of foreign liabilities of three shipyards based on issued guarantees amounting to 300 million euros, as part of their restructuring.
As a result, the Croatian government debt at the end of April reached 8.5 billion euros, accounting for 18 per cent of total external liabilities, reports Croatian radiotelevision.
Tag cloud debt Croatian increased guarantees euros issued gross shipyards radiotelevision government Euros billion takeover Croatia total amounting based reached liabilities restructuring
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