Speaking on Tuesday at a reception at the Polish embassy in Washington marking 40 years since Poland’s return to the Bretton Woods institutions, the IMF and World Bank, Georgieva said Poland’s path since rejoining the Fund in 1986 remained an example the institution used when urging other countries to pursue difficult reforms.
She said Poland had moved from carrying USD 31 billion in debt at the time to becoming one of Europe’s fastest-growing economies. Income per capita had risen from 40% to 80% of the European Union average, while inequality had fallen alongside economic development.
Georgieva said she often referred to the “Polish experience” and the “Polish miracle” in conversations with world leaders. She said she had recently cited it in talks with Argentine President Javier Milei after his election, arguing that “shock therapy really works, you just need the will to apply it”.
She also rejected the notion that Poland had obstructed carbon-emissions cuts because of its attachment to coal.
“The data show the opposite — as economic growth increased, emissions per unit of GDP fell dramatically”, she said.
Georgieva added that Poland, as the world’s 20th-largest economy in nominal terms, had “earned its place” in the G20.
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Source: PAP