Poland
Issue of NBP revaluation reserve returns
Reports in Poland by the Polish news Bulletin said that the Finance Ministry may try to convince the Monetary Policy Council (RPP) that the central bank's revaluation reserve should be used to patch the budget deficit. However, the RPP criticised the…
Economy Minister: Poland should consider zloty peg
Polish Economy Minister Jerzy Hausner has called for Poland to peg the zloty to the euro, according to EU Business. But National Bank vice president Andrzej Bratkowski said prematurely linking the zloty to the euro "risks impeding a coherent economic…
Balcerowicz: 2007 euro entry depends on budget cut
Poland's adoption of the euro will depend on the success of the austerity plan, National Bank of Poland Governor Leszek Balcerowicz has said, according to the PAP news agency. Balcerowicz reiterated that the realistic date for entry to the eurozone is…
Fake Polish euros on sale on the internet
Fake sets of "collectors'" Polish euro coins are being sold on the internet, according to AFP. The "sample Polish Euros" were quickly dismissed by the National Bank of Poland who pointed out that it did not distribute such coins.
Poland's central bank warns on public finances
Polish central bank chief Leszek Balcerowicz has said in an interview that unless a credible programme exists to repair budget finances, Poland's long term economic growth will be restricted, according to the Financial Times.
Polish central bank rapped over computer tender
The National Bank of Poland has caused uproar among computer producers after a tender it held for new machines allegedly favoured just one manufacturer, according to the Polish News Bulletin.
European central banks call for respect on Pact
Central bankers from Poland, Hungary and the Czech Republic have called on euro-zone countries to respect the stability and growth pact fearing that growing demands for flexibility could undermine their own countries' efforts to join the euro, reports…
Poland appoints Czekaj to Monetary Policy Council
Poland's Deputy Finance Minister Jan Czekaj was voted onto the National Bank of Poland's Monetary Policy Council on Tuesday. Czekaj, a taxation guru at the ministry, was reported as saying after the Tuesday vote that he would likely take part in the…
Balcerowicz urges fiscal reform in Poland
Polish central bank governor Leszek Balcerowicz has urged the government to undertake serious fiscal reform measures, according to Deutsche Presse-Agentur. If Poland is to avoid repeating Argentina's mistakes, there is a simple choice: "Either tolerance…
Poland: c bank head calls for public spending cut
National Bank of Poland governor Leszek Balcerowicz said on Tuesday 5 Augustthat unless the necessary cuts in public spending are introduced the current economic recovery in Poland could be short lived, according to the PAP news agency.
NBP governor predicts 5% economic growth in 2004
Governor Leszek Balcerowicz of the National Bank of Poland said on Thursday 31 July that reforms of public expenditure were needed to reduce Poland's budget deficit, according to the Warsaw Business Journal.
'Arch-dove' proposed to Poland's monetary council
Poland's ruling SLD party has named current Deputy Finance Minister Jan Czekaj as its candidate to fill the vacancy on the national bank's interest rate-setting Monetary Policy Council (RPP), according to an Interfax report. The Polish government has…
Poland's Balcerowicz: State finances must improve
President Leszek Balcerowicz of the Polish National Bank told Polish radio that radical improvements must be made to the country's state finances. He said with public finances in poor health, a fast and uninterrupted economic growth will not be possible.
Polish Fin Min wants c bank help on foreign debt
Poland's finance ministry is seeking funds from the national bank at a preferential rate to use to repay part of Poland's foreign debt, so-called Brady bonds, according to Polish News Bulletin. Leszek Balcerowicz, president of the NBP, did not comment on…
Polish central bank may lend State $3-4bn
A member of the national bank of Poland's (NBP) interest rate setting RPP said the NBP may lend the government upto $3-4bn. Dariusz Rosati said the loan would go part of the way to meeting persistent demands by the government that the Bank should support…
Polish premier seeks agreement with central bank
Polish prime minister Leszek Miller said Thursday he sees room for interest rate cuts as inflation is not a problem in Poland and hoped for a harmonised economic and monetary policy, PAP news agency said.
Poland to elect new monetary council member
The newest member of the National bank of Poland's Monetary Policy Council (RPP) will be elected in August. Analysts said Stanislaw Nieckarz, an economic advisor to the prime minister, has the best chance of taking up the position.
Interview with National Bank of Poland governor
In an interview with the Polish News Bulletin published Friday, Leszek Balcerowicz, governor of the National Bank of Poland spoke on the government deficit, inflation targeting, and eurozone accession.
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, the Polish News Bulletin reports. Members of the Monetary Policy Council oppose any decrease of reserves made against…
Polish c bank head calls for EU to speed reform
The head of Poland's national bank on Wednesday 25 june urged the EU to pressurize Poland and other states to speed up economic reform, according to the Financial Times. He urged Poland, Hungary and the Czech Republic to cut their high fiscal deficits.
Balcerowicz survives
Embattled central bankers in Poland triumphed after a skirmish with finance minister Kolodko, who has now resigned after failing to sandbag the central bank into shelling out a further 5bn zlotys (having already parted with 9bn zlotys) from its…
Polish central bank chief seeks euro entry in 2007
National Bank of Poland President Leszek Balcerowicz told Bloomberg News in a television interview "Our hopes are for 2007" to adopt the euro and it was worth aiming for early adoption.
Poland's fin min plans tough dialogue with c bank
Poland's new finance minister Andrzej Raczko has said he plans tough talks with the country's central bank, but he also sees room for agreement and understanding of both sides, according to Polish Radio.
Polish fin min demands Bank reserves later resigns
Poland's finance minister Grzegorz Kolodko on Wednesday called for an additional 5bn zlotys from the revaluation reserve of the central bank to go to the 2004 budget, a move the central bank governor firmly rejected. However, Kolodko later resigned after…