PROCUREMENT NEWS

Poland : 2 YEAR USD33.8 billion loan deal with Poland backed by fund\'s Executive Board

Published 22 Jan 2013

22 billion special drawing right (SDR) in renewal of the precautionary loan arrangement is only for preventive measures only; the Polish side will not use it.

Nations having strong fundamentals is granted with the IMF\'s FCL program with very strong fundamentals, policies, and track records of policy achievement and is mainly useful for crisis avoidance purposes.

Extremely strong economic fundamentals and policy frameworks are possessed by Poland, including that both the sufficient international reserves and the precautionary FCL arrangement helped the country to keep market confidence.

The country\'s economic expansion has decelerated, affected by Europe\'s financial crisis, and it\'s expected to moderate more during the current year, since early2012.

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