Poland Going Platinum

The Polish finance minister says that Poland will apply for the International Monetary Fund's Flexible Credit Line and thus wants to become a member of the prestigious "Platinum Club" which includes strong economies.

Thanks to the Flexible Credit Line (FCL) the reserves of the National Bank of Poland will increase by USD 20 bln. Joining the mechanism will protect Poland against uncontrolled depreciation of its currency and shield it against the effects of the global crisis. During the talks with IMF it was clear that Poland continues to be perceived as a pillar of stability in the region.

The Platinum Club admits only countries with a very strong track record of viable economic policy and those which give confidence that their economic policies will remain strong in the future. This move stems from a cautious and responsible economic policy conducted by the Polish government before and during the global crisis.