PM-designate talks with foreign financiers of Croatia's debt

Croatia's Prime Minister-designate Tihomir Oreskovic on Thursday held talks with foreign investors and bankers in Kitzbuhel, Austria, and on that occasion outlined his plan to cut the country's debt, according to some Croatian media outlets.

The media said that the first response of Oreskovic's interlocutors in the Tyrolean ski resort was positive, while he is expected to give an official statement on Friday when he comes back to Zagreb.

On Wednesday, before he and Croatian National Bank Governor Boris Vujcic departed to Austria, Oreskovic said that he would hold talks with a dozen investors who "are holding eight to 10% of Croatia's debt", and pointed out the importance of improving Croatia's credit rating.

"Our debt has reached nearly 90% of our BDP and keeps growing, which is worrisome, and now we should see how to curtail it. I have programmes and plans and I will present them at the right time. Now it is important for me to share ideas with investors and to see how we can reduce this debt and kick-start the growth in one or two years," Oreskovic said on Wednesday after he was received by President Kolinda Grabar-Kitarovic in her office in Zagreb.

The national broadcaster HRT said on Thursday evening that during the Kitzbuhel meetings Oreskovic had outlined some reforms that might be interpreted as more radical than what has been shown to the Croatian public to date.

According to the HRT, Oreskovic met with executives of Deutsche Bank, Goldman Sachs, Merrill Lynch, Eaton Vance and some other lenders as well as with credit rating agencies.

Last update: Thu, 14/01/2016 - 22:32

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