Republic of Poland: 2013 Article IV Consultation
IMF Staff Country Reports, July 23, 2013
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- Republic of Poland: 2013 Article IV Consultation
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Bibliographic details
- Published: July 23, 2013
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484345078.002
Key findings and summary
- Staff report highlights economic development and policies for the Republic of Poland’s 2013 Article IV Consultation.
- The current account in 2012 was primarily financed by EU transfers and foreign direct investment (FDI), notwithstanding a reduction in net FDI inflows.
- Moderate outflows from the domestic banking system were more than offset by strong portfolio inflows into the government bond market.
- The current account deficit and real effective exchange rate are broadly in line with medium-term fundamentals and desirable policies according to the External Balance Assessment models.
- The largely foreign-owned banking system has remained well-capitalized, profitable, and liquid.
External sector and financing
- Current account (2012): primarily financed by EU transfers and FDI.
- Net FDI inflows: reduction noted (no numeric value provided in source).
- Domestic banking system: moderate outflows recorded.
- Government bond market: experienced strong portfolio inflows.
- Assessment: current account deficit and real effective exchange rate consistent with medium-term fundamentals per External Balance Assessment models.
Banking and financial stability
- Banking system characteristics:
- Largely foreign-owned.
- Remained well-capitalized.
- Remained profitable.
- Remained liquid.
- Interaction with external financing: banking outflows were offset by portfolio inflows into government bonds.
Topics and thematic coverage
- Subject areas covered in the report: Banking, Expenditure, External debt, Financial institutions, Labor, Loans, Public debt.
- Keywords included: authority, banking system resilience, Central and Eastern Europe, CR, debt ratio, Europe, GDP growth, GDP slowdown, Global, ISCR, liquidity support, Loans, MoF NBP, product market, risk burden.
Content in this bundle
- Republic of Poland: 2013 Article IV Consultation--Staff Report