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Croatia raises guarantees for savings to 75,800 dollars

Sahil Nagpal 14 October 2008

Croatia raises guarantees for savings to 75,800 dollars Zagreb - Croatia's government said Monday it would raise guarantees for bank deposits from 100,000 to 400,000 kunas (18,950- 75,800 dollars).

The decision followed government calls for people not to panic or withdraw money from local banks amid the global finance crisis.

Croatia's central bank have said banks were well protected thanks to their strong liquidity reserves. Parliament was expected to approve the government move on Wednesday. (dpa)

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