Polish Toledo

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Thursday, March 05, 2009

Poland's Economy Stable

While failing economies have sparked riots and financial bailouts in parts of Eastern Europe, Poland and the Czech Republic have relatively stable economies and are trying to distinguish themselves from their ailing neighbors.

After the formidable economic reforms of recent years, these countries don't want their image tarnished by Hungary, Ukraine and Latvia, which have all received International Monetary Fund bailouts.

They fear that being lumped together will drive away even more foreign investment and capital. In Brussels, where Polish and Czech leaders helped strike down a Hungarian plea for the European Union to provide up to $241 billion to help restore trust and solvency in eastern members, the message from Warsaw and Prague was clear: we don't need rescuing.

As part of its mission to keep up investor confidence in Poland, the central bank governor is in the United States this week for meetings with World Bank to present Poland as a stable and trustworthy economic partner.

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