Poland Says No To $9.2 Billion Credit Line From IMF - Your News Wire
Author: http://facebook.com/carol.adl
Description: Poland has said thanks but no thanks to a $9.2bn credit line from IMF
Date: 2017-10-16T18:56:32+00:00

Headlines

- [ October 16, 2017 ] Poland Says No To $9.2 Billion Credit Line From IMF News
- [ October 16, 2017 ] Syrian Forces Discover Israeli Made Weapons In Liberated ISIS Territory Middle East
- [ October 16, 2017 ] Hillary Clinton Breaks Her Toe Falling Downstairs News
- [ October 16, 2017 ] FEMA Says Its Not Their Job To Deliver Food & Water To Puerto Ricans News
- [ October 16, 2017 ] Robert De Niro, Who Calls Trump ‘Low Life,’ Was Client Of Brothel Using Kids News

Search for:

# Poland Says No To $9.2 Billion Credit Line From IMF

October 16, 2017 Carol Adl News 0

Poland has said thanks but no thanks to a $9.2bn credit line from IMF

According to Polands finance ministry, Warsaw will withdraw from the International Monetary Fund’s precautionary Flexible Credit Line (FCL) which is worth billions of dollars.

The ministry quoted Finance Minister Mateusz Morawiecki on Twitter saying: “We are resigning from a $9.2 billion credit line from the IMF. The Polish economy is in such a good situation that we can do it”

> #Morawiecki: Rezygnujemy z $9,2mld linii kredytowej #IMF Polska gospodarka jest w tak dobrej sytuacji, że możemy to zrobić. @IMFNews pic.twitter.com/JtlxiHrWQw

> — MinisterstwoFinansów (@MF_GOV_PL) October 14, 2017

RT reports:

The country’s budget posted a record surplus of $1.36 billion for the period from January to August as a result of a steep rise in revenue from value-added tax. Economic growth was almost four percent.

I have taken the decision to quit the FCL after an analysis of tax data, macroeconomic parameters, assessment of our budget stability and currency reserves,” Morawiecki was cited as saying.

In January, the Executive Board of the IMF approved a two-year arrangement for Poland worth about €8.2 billion at that time.

The fund said the credit line would “provide valuable insurance against external shocks.”

“A possible growth slowdown and banking sector stress in the euro area could have significant spillovers via trade, financial, and confidence channels,” said the IMF.

The Flexible Credit Line has been in place for Poland to use at times of crisis since 2009, but the country has never drawn on the funds. Last year Poland asked the IMF to halve the value of the FCL.

- About
- Latest Posts

### Carol Adl

Writer at News Punch

#### Latest posts by Carol Adl (see all)

- Poland Says No To $9.2 Billion Credit Line From IMF - October 16, 2017
- Syrian Forces Discover Israeli Made Weapons In Liberated ISIS Territory - October 16, 2017
- Hillary Clinton Breaks Her Toe Falling Downstairs - October 16, 2017

Copyright © 2017 The People’s Voice, Inc. All rights reserved | Your News Wire

Skip to toolbar
Log Out