Croatia Borrows $1.5 Billion In America

Croatia’s Minister of Finance Slavko Linic is currently in America where he has just borrowed 1.5 billion USD on the American market. Linic has gone to the US to put Croatia into more debt and has secured the 1.5 billion USD which Croatia will have 10 years to pay back with an interest rate of 5.625%.

Reuters sources say that most of new money lent to Croatia has come from the Bank of America, Merrill Lynch, Deutsche Bank, Goldman Sachs and JP Morgan.

It was just a few months ago that Linic publically stated that there would be no new borrowing from overseas.