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Adam Glapiński sworn in for second term as Poland's central bank chief

22.06.2022 16:45
Former rate setter Adam Glapiński was on Wednesday sworn in by parliament for a second term as head of Poland’s central bank.
Adam Glapiński (pictured) was on Wednesday sworn in by parliament for a second term as head of Polands central bank.
Adam Glapiński (pictured) was on Wednesday sworn in by parliament for a second term as head of Poland’s central bank.Photo: PAP/Radek Pietruszka

Taking the oath, Glapiński said he would "strictly follow the provisions of the constitution and other laws" and also pledged to "strive for the economic development of the country and the prosperity of its citizens."

"So help me God," he added.

The swearing-in ceremony was disrupted by protests from the opposition over surging inflationIt came after Poland's lawmakers last month voted to reappoint Glapiński as central bank chief for another six-year term.

Photo: Photo: PAP/Radek Pietruszka

A total of 234 members of the lower house of Poland's parliament on May 12 voted in favour of a second term for Glapiński, while 223 opposed and none abstained, state news agency PAP reported.

The parliamentary vote was held after President Andrzej Duda in late January asked MPs to reappoint Glapiński.

An aide said at the time that the president was happy with the central banker's record, including "his efforts aimed at limiting the economic impact of the COVID-19 pandemic."

Glapiński's second term as governor of the National Bank of Poland (NBP) officially began on Wednesday.

Glapiński graduated from the Warsaw School of Economics in 1972. In the 1990s, he twice served as a government minister and then held a range of public, academic and business roles before taking over at the central bank on June 21, 2016.

A former economic advisor to the late President Lech Kaczyński, Glapiński was in 2010 appointed a member of Poland’s rate-setting Monetary Policy Council. After his term ended in February 2016, Glapiński was appointed to the NBP's management board in March of that year.

Before joining the Polish central bank’s Monetary Policy Council, Glapiński presented himself as a supporter of a strong state presence in the economy and as an opponent of an early adoption by Poland of the euro.

The Monetary Policy Council this month raised key interest rates for the ninth consecutive time in a bid to tame inflation.

(gs)

Source: PAP