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The Croatian government is erasing the debt of many of its citizens

It could affect over 50,000 people in Croatia.

By Thor Benson

ZAGREB, Croatia, Jan. 31 (UPI) -- The Croatian government has announced the debt of Croatia's poorest citizens will soon be erased.

The "fresh start" program is aimed at helping the worst off among over 317,000 whose bank accounts have been closed because of debt, the Washington Post reports.

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The plan will only affect those with debt less than $5,100 and a monthly income of $138 or less. Early estimates show the plan will apply to at least 52,000 citizens.

The total debt of Croatian citizens is roughly $4.11 billion, and this plan is the first major step toward relieving some of that debt.

Prime Minister Zoran Milanovic convinced many cities, telecom providers, private companies and nine banks to erase the debt of many citizens, and the Croatian government is not obligated to make up for their financial losses.

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