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Poland's central bank head seeks to resolve dispute with prime minister

25.03.2024 14:00
Adam Glapiński, President of the National Bank of Poland (NBP), is reaching out to Prime Minister Donald Tusk in an attempt to resolve a growing dispute that he believes is harming Poland's international standing.
Adam Glapiński.
Adam Glapiński. Photo: PAP/Radek Pietruszka

In an interview with the Financial Times, Glapiński said he plans to write a letter to Tusk, proposing a resolution and expressing his willingness to defend his actions at the State Tribunal if necessary.

This development follows an announcement by Tusk last week, stating that a proposal to present Glapiński before the tribunal is prepared and will soon be filed, heightening tensions between Poland's financial and political leadership amid concerns over the country's economic challenges.

Glapiński criticized the approach of attributing the blame for high inflation rates to the government and the central bank, a strategy he perceives as politically motivated, especially during the election period. "It's time to get over it. We have common problems," he told FT.

The central bank chief also defended the NBP's policies against allegations of political bias and mismanagement, particularly in relation to inflation control and bond purchases. "I don't think anyone in Poland can accuse a central bank of false monetary policy against inflation or bond purchases," Glapiński stated.

The accusations against Glapiński include a series of charges that range from constitutional and legal violations to specific grievances about the bank's internal governance and financial decisions, such as the issuance of bonuses and the purchase of bonds in 2020 that allegedly led to a weakening of the Polish złoty.

(jh)

Source: IAR, PAP, Financial Times