Republic of Poland: 2009 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Republic of Poland

International Monetary Fund

No 2009/266, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2009 Article IV Consultation highlights that Poland’s rapid growth had begun to lose steam even before the global crisis hit. Following robust and relatively well-balanced expansion, driven by an EU accession-related investment boom and rapid credit and wage growth, economic activity began to slow down in the face of capacity constraints. Executive Directors have noted that a significant deceleration in economic activity is under way, reflecting adverse spillovers through real and financial channels. They have also commended the authorities for the timely, well-focused, and measured policy response.

Keywords: ISCR; CR; bank; financing; government; deficit; Poland; IMF definition; world commodity price; financing of credit portfolio; IMF staff estimate; asset consolidation exercise; result of banks' preference; price pressure; data ROSC mission; Government finance statistics; Credit; Global; Central and Eastern Europe (search for similar items in EconPapers)
Pages: 60
Date: 2009-08-21
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