Polish gov't wants c bank reserves to finance debt

Poland's new minister of finance Andrzej Raczko plans to use central bank foreign currency reserves to finance Polish foreign debt. Members of the Monetary Policy Council oppose any decrease of reserves made against exchange rate risk.

Source: Polish News Bulletin

Andrzej Raczko, the new Minister of Finance, decided to withdraw from a controversial plan of his predecessor, Grzegorz Kolodko, to include in next year's budget funds from the revaluation reserve of the National Bank of Poland (NBP).

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