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Croatia May Turn to IMF as Debt Grows ‘Risky,’ Linic Says

Croatia may seek assistance from the International Monetary Fund as next year’s borrowing needs become “enormous and very risky,” Finance Minister Slavko Linic said.

The European Union’s newest member needs to borrow 44 billion kuna ($7.7 billion) next year to refinance debt and service a budget gap of 16 billion kuna, Linic told Zagreb-based weekly magazine Globus. Government spokeswoman Zinka Bardic confirmed Linic’s statements by phone.