• A-
  • A
  • A+
Wednesday, November 22, 2017, 

Croatia parliament debates government no-confidence motion over Agrokor

Croatia parliament debates government no-confidence motion over Agrokor

Zagreb, 10 November 2017 (MIA) - The Croatian parliament began a debate on Friday on an opposition no-confidence motion against the government over its handling of a debt crisis that had hit Croatia’s largest firm Agrokor, Reuters reports. 

The opposition, led by the Social Democrats, says that the government, which took over administration of Agrokor last April, was not running the restructuring process transparently. It also says that the whole process has been politicized.

“The government has failed to provide credible answers on key questions in relation to the law on Agrokor,” the opposition said in its motion.

The no-confidence motion is unlikely to succeed as the center-right coalition comprising the conservatives and the liberals has a small but firm parliamentary majority. A vote is expected on Friday.

The government introduced an emergency law to intervene because Agrokor, the largest employer in the Balkans, faced a debt and liquidity crisis.

The opposition has criticized the government for a liquidity loan agreed in recent months with creditors, including foreign investment funds, to finance Agrokor’s operations through a 15-month period of restructuring.

It said that the loan deal was not transparent and appeared to favor some creditors. The government and Agrokor’s crisis manager Ante Ramljak reject the accusations. lk/16:22

###

All Rights Reserved.This material may not be stored, published, broadcast, rewritten or redistributed in any form, except with the prior express permission of Macedonian Information Agency.



Mosaic

Forbes: Beyonce music's highest-earning woman

Forbes has crowned Beyonce as the highest paid wom...

Hippie cult leader Charles Manson dies at 83

Charles Manson, the hippie cult leader who became ...

New NASA tool predicts which cities face floods due to ice melt

NASA scientists have developed a tool to forecast ...

‘Despacito’ dominates Latin Grammy Awards

The global hit “Despacito” was the big winner at T...

Newly discovered planet Ross 128 b could support life

Scientists have discovered an exoplanet—relatively...

Top